No, Bitcoin is not in its ‘longest ever bear market’ — Here’s why

Cryptocurrencies like Bitcoin (BTC) are not in their “longest-ever bear market” and most likely are not even in a bear market at all, according to some industry observers.MN Trading founder Michaël van de Poppe took to X (previously Twitter) on Aug. 27 to declare that Bitcoin is presently in its “longest bear market” in history. Source: CoinGeckoAccording to another interpretation, Bitcoin may not currently be in a bear market at all.Some classic definitions suggest that a bear market happens when a market index or asset decreases by 20% or more from its recent high.According to data from CoinGecko, Bitcoins most current high occurred in mid-July 2023 at around $31,400. I think those that focus on short timeframes may be experiencing a bear market,” Jan3 CEO Samson Mow told Cointelegraph.Related: Bitcoin soars in Argentina as Javier Milei wins governmental primaryThe Bitcoin advocate likewise hinted that he sees the present market scenario as “really bullish” in the middle of contributing aspects like high inflation, loss of purchasing power, spiraling financial obligation and adoption by nation-states like El Salvador.” Taking the longest time frame for both previous occurrence and future expectations, we can, nevertheless, determine that Bitcoin constantly has and constantly will be in a bull market,” he stated.Collect this post as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.Magazine: How to safeguard your crypto in an unpredictable market– Bitcoin OGs and experts weigh in

Thank you for reading this post, don't forget to subscribe!

Cryptocurrencies like Bitcoin (BTC) are not in their “longest-ever bearish market” and probably are not even in a bearish market at all, according to some market observers.MN Trading creator Michaël van de Poppe took to X (formerly Twitter) on Aug. 27 to claim that Bitcoin is currently in its “longest bearishness” in history.” Right now, the rate of Bitcoin is nowhere near the evaluation of the peak in November 21. Its down more than 50% and in a bearish market of 490 days,” the trader wrote.Van de Poppes declaration has actually brought much attention from X users, accumulating 1.3 million views and almost a thousand reposts at the time of writing. Some crypto lovers, nevertheless, are confident that Van de Poppes info is not the case.To identify the length of the existing “bear market” in crypto, its necessary to understand that there are different interpretations of the term.” Thing is, the terms bull and bearishness are totally subjective,” Quantum Economics creator Mati Greenspan told Cointelegraph. ” It can mean either the cost has moved in the previous or that the price is expected to move in a particular instructions in the future,” Greenspan stated, adding:” The ambiguity creates unlimited opportunities for experts to make pointless arguments in perpetuity.” According to Cointelegraphs market editor Allen Scott, one might see the existing market scenario as a “multiyear bear market now until a brand-new all-time high is broken.” Such a point of view suggests that Bitcoin has actually remained in a bearish market given that reaching its historical peak near $69,000 on Nov. 10, 2021, or for 659 days. The duration is even longer than the one discussed by Van de Poppe, however its still not the longest “bear market” based upon such an approach.As previously mentioned by Cointelegraph, Bitcoin as soon as saw its price stay listed below its previous highs for a duration of 37 months– or about 1,125 days– in between November 2013 and January 2017. For over three years, Bitcoins cost stopped working to reclaim $1,000 after hitting the cost mark in 2013. After reaching $20,000 for the very first time in December 2017, Bitcoin once again lagged behind the cost level up until December 2020, or for 1,095 days. Does that mean that Bitcoin was in a “bear market” during this duration at all? Looking at the charts, one might state that Bitcoin was in fact on the trajectory of striking its all-time peak of $68,000. Bitcoin cost chart in between late 2017 and August 2023. Source: CoinGeckoAccording to another analysis, Bitcoin might not currently be in a bear market at all.Some timeless definitions suggest that a bearish market takes place when a market index or asset decreases by 20% or more from its current high.According to data from CoinGecko, Bitcoins most current high happened in mid-July 2023 at around $31,400. At present rates, Bitcoin is around 13% shy of that level. The cryptocurrency has actually climbed 34% over the past year.” If you zoom out enough, Bitcoin is just one big green candle and has been in a constant bull market considering that 2019. I think those that focus on short timeframes may be experiencing a bearish market,” Jan3 CEO Samson Mow told Cointelegraph.Related: Bitcoin soars in Argentina as Javier Milei wins governmental primaryThe Bitcoin supporter likewise hinted that he sees the current market scenario as “very bullish” amidst contributing aspects like high inflation, loss of purchasing power, spiraling debt and adoption by nation-states like El Salvador. Trim also has his own meaning of a bearishness:” A bearish market is what high-time-preference crypto financiers experience regularly.” Quantum Economics Greenspan supported Mows remarks, arguing that Bitcoin has never ever actually been in a bearishness. ” Taking the longest timespan for both previous event and future expectations, we can, however, figure out that Bitcoin always has and constantly will be in a booming market,” he stated.Collect this article as an NFT to protect this moment in history and reveal your assistance for independent journalism in the crypto space.Magazine: How to safeguard your crypto in an unpredictable market– Bitcoin OGs and experts weigh in