The Bitcoin Bear Market Is Far From Over, Here’s Why

2023-6-2 02:00

The recovery of Bitcoin and other cryptocurrencies at the start of the year brought about hopes that the bear market had finally come to an end. However, the market has since reversed with assets in the space losing a good portion of their Q1 gains. With the current trend, it is more than likely that the bear market is not over.

Historical Bitcoin Trends Suggest Otherwise

Over the last four bull markets that Bitcoin has seen since its inception, a number of things stand out. The first is that the bear market following a bull market does not seem to come to an end until the year of the halving.

The Bitcoin Halving is an important event because it cuts down the BTC block rewards in half, hence reducing the number of new BTC being released into circulation. This is a bullish event and has always heralded the start of the bull market for the cryptocurrency.

Currently, the market is still about a year away from the next Bitcoin halving set to happen in 2024, and if historical trends are anything to go by, then the bear market is likely to persist through 2023 and into early next year before the first hallmarks of the bull run are seen.

Following previous trends, there could still be more pain for BTC to come. If it is to lose around 85% of its all-time high value as it did before the last bull run, then the bottom of the market has likely not been reached yet either.

Investor Sentiment Remains Low

After the euphoria of the pump in the first half of 2023 died down, investors have been at a loss when it comes to pitching their tents. As a result, investor sentiment has drawn to a standstill as the Crypto Fear & Greed Index now sits at a neutral 52.

This means that investors are not doing anything bullish like buying more Bitcoin at this time, so the bear market is persisting as sellers continue to dominate. A return back into the greed territory would see prices rise again but this is unlikely given that buyers are likely waiting for BTC to revisit $20,000 before getting back in the game.

For now, BTC is still ranging below $27,000, a support level that bears have successfully flipped into resistance. However, it is still trading above its 100-day moving average, which suggests bullish momentum in the short term, albeit a short-lived one.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

market bitcoin bear reversed however gains portion

Источник: newsbtc.com

market bitcoin → Результатов: 126


Bitcoin’s (BTC) Bullish Patterns Emerge: Is a Market Super Cycle on the Horizon? Pay Attention to These Metrics

Bitcoin’s trading pattern lately reveals a consistent sideways movement, with fluctuations between $60,000 and $72,000. This trend, as highlighted by top cryptocurrency analyst Doctor Profit via a tweet on X, mirrors historical market behaviors that have typically preceded significant price increases.

2024-4-29 09:30


Ethena’s (ENA) Crucial Role In Bitcoin Bull Market: Expert Identifies Critical Factors For Sustainable Growth

The recent volatility in the Bitcoin (BTC) price and its struggle to consolidate above the $70,000 mark has raised questions about the sustainability of its ongoing bull run. However, market expert Charles Edwards, co-founder of Capriole Invest, believes that the decentralized finance (DeFi) protocol Ethena Labs (ENA) could significantly extend and boost Bitcoin’s bull market to new heights.

2024-4-10 03:00


Фото:

Option2Trade Remain Market Favorites With Ether As Bitcoin Reaches All-Time Highs

As Bitcoin (BTC) reaches all-time highs, setting the stage for further market growth, Ethereum (ETH) and Option2Trade (O2T) continue to shine as market favourites. Their sustained popularity amidst Bitcoin’s (BTC) milestone achievements highlights the multifaceted nature of the cryptocurrency market, where diversity, innovation, and community involvement are just as crucial for success. Ethereum’s (ETH) role […]

2024-3-13 19:33


Фото:

Bitcoin consolidating above $62k as bull market indicators start flashing

The crypto market has entered March with its foot firmly on the accelerator despite showing signs of a slight slowdown from its recent rapid ascent. Bitcoin (BTC) has continued to hover around the $62,000 mark, showcasing a resilient stance amid varying market sentiments after its remarkable rally past the $60,000 threshold to a high of […] The post Bitcoin consolidating above $62k as bull market indicators start flashing appeared first on CryptoSlate.

2024-3-3 18:32


Фото:

Bitcoin already in fifth bull market, to reach $125,000 by December 2024 – Matrixport

Bitcoin’s (BTC) price is expected to rally to as high as $125,000 by the end of 2024, crypto services provider Matrixport said in an Oct. 26 note shared with CryptoSlate. This prediction is based on the institution’s belief that the market has entered the fifth phase of Bitcoin’s bull market, primarily driven by “the expectations of […] The post Bitcoin already in fifth bull market, to reach $125,000 by December 2024 – Matrixport appeared first on CryptoSlate.

2023-10-26 15:10


Bitcoin Dominance Returns Above 50% As Altcoins Encounter Resistance

With a market valuation of almost $520 billion and a current price of $26,690, Bitcoin has reclaimed the limelight. It now accounts for more than half of the entire cryptocurrency market. This turning point is important because it occurs at a time when many alternative cryptocurrencies are stagnating or declining. It’s worth noting, though, that […]

2023-9-19 10:30


Фото:

Bitcoin Price Supported By Thin $40 Million Bid Pool, But For How Long?

In the ongoing market turbulence on higher timeframes, Bitcoin (BTC) is at a crucial juncture as a great consolidation phase persists. Research and analysis firm Material Indicators closely monitored the recent weekly candle close/open, paying particular attention to two key factors: the trend line and the 21-day, 21-week, and 21-month moving averages (MA) – all of which are currently influential in shaping market dynamics.

2023-8-15 02:00


Bitcoin Cash price moved to a bear market: Buy the dip?

Bitcoin Cash price has moved to a bear market after falling by 22%. The coin has more short-term downside as it moves from the overbought zone. Some investors believe this is a good time to dollar cost average (DCA) Bitcoin Cash price has moved into a bear market as investors start taking profits after the […] The post Bitcoin Cash price moved to a bear market: Buy the dip? appeared first on CoinJournal.

2023-7-6 19:08


Bitcoin dominance surging amid changing market dynamics and regulatory crackdown

Key Takeaways Bitcoin dominance measures the ratio of the Bitcoin market cap to the cumulative cryptocurrency sector market cap It is currently at 58%, the highest mark since April 2021 Market dynamics are changing as institutions consider Bitcoin, while rest of crypto market still struggles amid tight monetary policy environment Regulatory clampdown has also declared […] The post Bitcoin dominance surging amid changing market dynamics and regulatory crackdown appeared first on CoinJournal.

2023-7-1 17:37


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Fundstrat CEO Predicts When Bitcoin Price Will Reach $150,000 And $500,000

Thomas Jong Lee, the Chief Executive Officer (CEO) of Fundstrat, an independent financial research boutique, has maintained a bullish stance on Bitcoin. The financial analyst has predicted that the world’s largest cryptocurrency could surge massively, doubling its current price to reach $150,000 during the 2024 crypto market cycle.

Why Is The Bitcoin Price Falling Today?

Bitcoin (BTC) has experienced a price slowdown, having recently recovered above $60,000. This tepid price movement is believed to be due to a couple of factors, including the reduced demand for the Spot Bitcoin ETFs.

Finance Expert Raoul Pal Says 20% Bitcoin Correction Only Temporary As Euphoria Will Return

Co-founder and Chief Executive Officer (CEO) of Real Vision, Raoul Pal has shed light on the current market state and the future outlook of Bitcoin, the world’s largest cryptocurrency. Despite the cryptocurrency witnessing declines of more than 15%, the financial expert has uncovered a significant pattern that indicates a potential bull flag following Bitcoin’s price correction.