Home Markets Crypto Bear Market 2022 is coming to an end? Experts suggest this time

Crypto Bear Market 2022 is coming to an end? Experts suggest this time

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Crypto Bear Market 2022 is coming to an end?  Experts suggest this time

The global digital asset market is still trading in bear clutches as the biggest crypto still faces resistance moving forward. Experts have suggested that the end of the bear market can be predicted by following the cycles of 2014 and 2018.

Will the Crypto Bear Market Last Long?

Bitcoin (BTC) prices have fallen more than 10% in the past 7 days. The data suggests that this BTC draw lasted 286 consecutive days. Bitcoin prices have fallen around 70% from their all-time high amid this crypto bear market.

The report points out that the bitcoin price showed weak signs of recovery. Last week, BTC failed to talk about the $25,000 price level. However, it also failed to sustain its strong uptrend at the $22.5000 support level. Bitcoin fell below the $20.7,000 price level.

He added that the $20.7000 support level has been retested three times since July 18. Bitcoin holds a support zone around $19,000 at the time of 2017 ATH.

After comparing this cycle with 2014 and 2018, the data shows that the bottom occurred 12-13 months after the start of the crypto bear market. This left the market down around 84%. The expert mentioned that if history repeats itself, the bottom could be recorded by the end of 2022.

Will the price of BTC recover?

However, the market is slightly different this time around. He pointed out that last year’s double top in April and November had never been seen before. Meanwhile, the 2018 bear market saw compressed volatility for a long time. It lasted 140 days where the price of BTC traded in the $6-7,000 range.

The expert mentioned that the same trend can be seen in the current market. Bitcoin price is trading in a price range near $20,000 for about 70 days.

Bitcoin is trading at an average price of $21,437, at press time. BTC holds a 24-hour trading volume of approximately $31.5 billion.

Ashish believes in decentralization and has a keen interest in the evolution of Blockchain technology, the cryptocurrency ecosystem, and NFTs. He aims to raise awareness of the growing crypto industry through his writing and analysis. When he’s not writing, he’s playing video games, watching thrillers, or playing sports outdoors. Contact me at [email protected]

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.

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