Is Bitcoin in a bear market or a bull market correction?
Bitcoin has fallen sharply over the past 30 days, falling from a record high of 109k to a low of 77k this week, a level that was last seen in November last year. This puts losses at almost 30%. Many investors fear a bear market, which is typically measured by a drop of 20% from a recent high in stock indices. However, a 30% decline in crypto doesn’t automatically mean that it has entered a bear market, given the high levels of volatility that are often seen in crypto pricing, and an even deeper selloff could still be on the cards. But these corrections are very normal in Bitcoin’s bull....
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Based on historical records, after every Bitcoin (BTC) bull run, a bear market hits, and this cycle may be no different. Analysts forecast that the upcoming bear market may see the price of Bitcoin dropping as low as $25,000. This decline would represent a whopping 77% crash, pushing BTC to a possible market bottom. Analyst […]
Bitcoin price is still trading at more than $25,000 less than the local highs set earlier in the year, and bulls have a lot of ground to reclaim. However, the lost ground might not be so bad after all, as it has brought the current market cycle a lot closer to past bull cycle comparisons, which could shed some light on what’s left for Bitcoin in terms of price action in the months ahead. Bitcoin Collapse Puts Market Cycle On Par With Previous Bull Run Following a sharp more than 55% decline across the board in cryptocurrencies – even the top dog Bitcoin – the market is....
Rejoice! The bear market might be over. That’s the main thesis behind July’s “The Bitcoin Monthly” report. “Because bitcoin’s price did not rise parabolically during the 2021 bull market, its bear market correction could be over,” ARK reasons. And it makes sense, the numbers seem to suggest it, and it feels like it. However, are we fooling ourselves? Is ARK’s reasoning wishful thinking? Let’s examine the data and see what it tells us. First of all, “bitcoin closed the month of July up 16.6%, rising from $19,965 to $23,325, its most significant gain since October 2021.” So far, so good. Can....
The co-founder of crypto exchange Huobi has shared his view about the current state of the bitcoin market and when the next bull run will be. “We are now at the early stage of a bear market,” he said, expecting the next bitcoin bull market to be around the end of 2024 or the beginning of 2025.
Huobi’s Executive on the Next Bitcoin Bull Market
Du Jun, co-founder of cryptocurrency exchange Huobi, discussed when the next bitcoin bull market might be in an interview with CNBC, published Sunday.
The exchange executive explained that bitcoin bull....
Following up on the weekend look at Bitcoin’s long term price chart, we will look again today at the long term (8 day candle) chart of BTC, per Kraken. Over the weekend we looked at a Bull Setup. As we saw, that setup suggests a bull move that will likely last several more months. But of course, it goes without saying that there are both bulls and bears in the market at pretty much any given moment. I expect that is well understood by everyone reading this article. So, it is not enough to just look at a bull setup as we did in my last article. We want to gauge bear strength also. So let’s....