Great Collapse! The Bitcoin Comment That Scared the Famous Platform Came
As the cryptocurrency market is going through a turbulent period, predictions about when the bear market will end are attracting great attention.
The Second Biggest Crypto Winter!
Analysts and members on Reddit, one of the leading platforms, stated that the current bear market is currently the second longest bear market in the history of Bitcoin. According to the statement, the longest crypto winter occurred in the 2013-2015 bear market, which lasted 415 days. The current bear market is in second place with 380 days. For the past few months, investors have been wondering how long the crypto winter will last. Yesterday, a Reddit analyst named u/partymsl published important information on the platform. The Reddit member described the current bear market as the “second longest winter”. According to experts, surviving the current bear market due to macroeconomic uncertainty, the risk of recession and high inflation is a great achievement. The author also outlined how he defines a bear market. Basically, a long period of decline, during which the price remains significantly below the all-time high, is called a bear market.
Noting that there is a black swan case in the crypto currency market, the expert stressed that the market has taken a big hit due to the FTX crisis. According to the author, given the current dynamics, the current bear market may be the most brutal and longest bear market. According to the author, the bear market of 2018-2019 lasted 365 days, and the current bear market is currently over 380 days. The author believes that the Bitcoin price has not yet seen a bottom level. The expert underlines that the current crypto bear market is very close to eclipsing the 2013-2015 bear market. The analyst’s assessment received a positive response of 89%.
The Uncertainty Continues!
The anxious wait continues in the crypto money market, which has taken a big hit due to the FTX crisis. Bitcoin is currently trading at $16,543. BTC has lost 1% in the last 24 hours. BTC has recorded a decline of more than 76% from the all-time high of $ 69,000, which it reached last November. Experts therefore predict that BTC will lose momentum towards the 14,000 dollar or lower levels.
According to experts, in order for BTC to gain momentum, the Fed needs to change its monetary policy. The collapse of FTX deeply affected the market. This is an event that will continue to have an impact in the short term. The possibility of a domino effect, on the other hand, continues to cause concern.
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