The current cryptocurrency bear market is now officially the longest in history. As it stands today, the current Bitcoin bear market has reached approximately 414 days of falling BTC price. Which, is longer than at any period in the 10-year history of the cryptocurrency.
History’s longest Bitcoin bear market!
This crypto winter has become the most intense one ever felt over the past decade. The previous longest bear market was between November’s end 2013 and mid-January 2015. During that period the price ofBitcoinplunged from 1,100 USD to roughly 200 USD.
Also, in this current bear market, the price of Bitcoin reached an all-time high of 19,800 USD halfway through December 2017. And, it has been on a downtrend since then.
Furthermore, the crypto winter has affected numerous crypto and blockchain companies as well. For example, ConsenSys, STEEM, EthereumClassic, and most recently NEM have all attributed their recent failure to make a profit to the bear market.
Market experts have made several predictions regarding when the bear market will end or how long it would continue. For now, no one has a definite knowledge about that. And, some cryptocurrency analysts have studied how Bitcoins are moved and have predicted that the bear market is currently in its final stage.
If that’s true, then we could be headed for a long accumulation period. And, Bitcoin bulls are expected to start accumulating as much Bitcoin as they can. For the sake of the market, they had better be right.
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