04 Feb 2019 Samantha McLauren
The Longest Bitcoin Bear Market is Already Here
Will Bitcoin survive the bear winter, or take on the faith of other currencies?
Over the past year, we have seen many turbulences in Bitcoin’s price. We saw highs of $19,000 at the end of 2017 and the beginning of 2018, and lows of $3200 recorded last month.
This rollercoaster is the result of 412 days of bear market, which beats the previous downward momentum for Bitcoin – from November 2013 to January 2015. The last drop resulted in Bitcoin’s price falling from $1,140 to $230.
Bitcoin survived the bearish trends over the past year, but many of the altcoins barely made it to the surface. Blockchain startup projects such as STEEM, Ethereum Classic, and ConsenSys, all fell under the bear market and blamed the downward spiral for not being able to survive.
Recent market data are showing no information about how long the bear market will continue to influence the top cryptocurrencies, but specialists are optimistic about the bearish trend is in its final phase.
Financial strategists have made assumptions about Bitcoin bulls entering a considerable accumulation period, and – at least according to trading volumes data – the period is soon to start.Bitcoin btc Bitcoin price