On the fence: If this is a crypto bear market, how long can it last?

On the fence: If this is a crypto bear market, how long can it last?


It has now been three months since Bitcoin’s price peaked at an all-time high just shy of $65,000. For most of the last two months, Bitcoin (BTC) has been trading in the $30,000–$40,000 range, as much as 54% lower than its peak

The downturn came at a time when many analysts were predicting exactly the opposite — a bull cycle set to run to new record highs within months — with some even speculating that a six-figure BTC price would materialize this year.

So, what’s going on? Is the current market downturn just a blip on an otherwise upward trajectory, or is the crypto market back in the kind of long-term bearish territory last seen in 2018?

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Bullish metrics

Bitcoin’s historical price activity has a compelling correlation with its halving cycles, with previous all-time highs being reached within around 12 to 18 months of a halving. PlanB, the creator of the Stock-to-Flow BTC price model, is among the most vocal proponents of

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