On Saturday, members of the discussion board r/cryptocurrency mentioned how the present bear market is now the second-longest bear market within the historical past of bitcoin costs. According to the discussion board put up, the present crypto winter has lasted greater than 380 days, slightly below the longest bitcoin downturn that came about through the 2013-2015 bear market, which lasted 415 days in size.
‘Surviving a Bear Is a Rite of Passage’ — Redditors Discuss Surviving the Second-Longest Bitcoin Bear Run
During the previous few months individuals have been interested by how lengthy the crypto winter will final and on Saturday, Nov. 26, 2022, the Redditor u/partymsl printed a discussion board put up on r/cryptocurrency declaring the present downturn as “the second-longest bear market ever for crypto.”
The put up’s writer notes that this crypto bear market is “likely to be the longest” and harassed that “surviving this [bear market] is no joke.” Moreover, u/partymsl additionally summarized how the writer defines a bear market, and defined that it’s “principally a protracted interval the place the worth stays considerably beneath the latest [all-time high].
Bitcoin LOG chart through Tradingview and the Redditor u/partymsl.
“With another black swan in crypto and another leg down, this time due to FTX, we are now officially in the second-longest bear market ever, an achievement I do not know whether we should be proud of,” the r/cryptocurrency put up’s writer notes. “Especially as with the current sentiment globally, this could very well be the most brutal and longest bear market.”
According to the writer, the 2018-2019 bitcoin bear market lasted one year, and the present downturn is now over 380 days. The Redditor u/partymsl additionally famous that its “highly unlikely” crypto costs have hit the underside. Moreover, with 380 days underneath the belt, the writer highlights that the present crypto bear market is getting awfully near eclipsing bitcoin’s 2013-2015 bear run.
“To become the greatest crypto bear market we are not too far off either, the 2013-2015 bear market took 415 days, which would put us in early January which is very likely to still be in a bear market,” u/partymsl defined on Saturday. The Redditor’s put up was a well-liked one on r/cryptocurrency with 89% upvotes and 514 of them on the time of writing. The writer’s two cents additionally obtained many feedback from fellow Redditors who additionally mentioned the chart u/partymsl shared with the put up.
“Surviving a bear is a rite of passage. Turns rookies into veterans,” one particular person stated. “40 thousand people used to post here, now it’s a ghost town,” one other particular person replied referring to r/cryptocurrency’s decline in posts for the reason that bull run. “Quitters never win,” one other Redditor snarked. The put up’s writer reminded crypto bear market survivors that they need to be happy with their willpower and making it this far.
“You can soon call yourself a survivor of the most brutal and [longest] crypto bear market in history and that is not easy,” the Redditor u/partymsl concluded. “Millions of people left the markets and we are truly the last ones standing. For coming this far and possibly even further, you all deserve a pat on your back. Well Done.”
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2013-2015, 2018 downturn, 380 days, 415 days, Bear Market, bear markets, Bitcoin, Bitcoin (BTC), backside, BTC, Bull run, chart, Crypto discussion board, Crypto Market Bottom, crypto winters, dialogue, Forum Post, LOG chart, r/Cryptocurrency, Reddit, Redditors, second-longest bear market, second-longest downturn, survivor, survivors, u/partymsl
What do you consider the present bear run turning into the second-longest downturn and the way it might surpass the longest bear run? Let us know what you consider this topic within the feedback part beneath.
Jamie Redman
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