{"id":536075,"date":"2023-06-01T23:00:20","date_gmt":"2023-06-01T23:00:20","guid":{"rendered":"https:\/\/uniquehot.com\/?p=536075"},"modified":"2024-06-11T08:17:10","modified_gmt":"2024-06-11T08:17:10","slug":"the-bitcoin-bear-market-is-far-from-over-heres-why","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/the-bitcoin-bear-market-is-far-from-over-heres-why\/","title":{"rendered":"The Bitcoin Bear Market Is Far From Over, Here\u2019s Why"},"content":{"rendered":"

The recovery of Bitcoin and other cryptocurrencies at the start of the year brought about hopes that the bear market had finally come to an end. However, the market has since reversed with assets in the space losing a good portion of their Q1 gains. With the current trend, it is more than likely that the bear market is not over.<\/p>\n

Historical Bitcoin Trends Suggest Otherwise<\/h2>\n

Over the last four bull markets that Bitcoin has seen since its inception, a number of things stand out. The first is that the bear market following a bull market does not seem to come to an end until the year of the halving.<\/p>\n

Related Reading: Here Are The Top 3 Chinese Coins To Buy As China Leads The Bull Run<\/a><\/div>\n

The Bitcoin Halving is an important event because it cuts down the BTC block rewards in half, hence reducing the number of new BTC being released into circulation. This is a bullish event and has always heralded the start of the bull market for the cryptocurrency.<\/p>\n

Currently, the market is still about a year away from the next Bitcoin halving set to happen in 2024, and if historical trends are anything to go by, then the bear market is likely to persist through 2023 and into early next year before the first hallmarks of the bull run are seen.<\/p>\n

Following previous trends, there could still be more pain for BTC to come. If it is to lose around 85% of its all-time high value as it did before the last bull run, then the bottom of the market has likely not been reached yet either.<\/p>\n

\"Bitcoin<\/p>\n

Each bull market began with a halving event | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Investor Sentiment Remains Low<\/h2>\n
After the euphoria of the pump in the first half of 2023 died down, investors have been at a loss when it comes to pitching their tents. As a result, investor sentiment has drawn to a standstill as the Crypto Fear & Greed Index now sits at a neutral 52<\/a>.<\/p>\n
This means that investors are not doing anything bullish like buying more Bitcoin at this time, so the bear market is persisting as sellers continue to dominate. A return back into the greed territory would see prices rise again but this is unlikely given that buyers are likely waiting for BTC to revisit $20,000 before getting back in the game.<\/p>\n
Related Reading: Optimism Crashes 33% Following Token Unlocks, Why There Could Be More Pain To Come<\/a><\/div>\n
For now, BTC is still ranging below $27,000, a support level that bears have successfully flipped into resistance. However, it is still trading above its 100-day moving average, which suggests bullish momentum in the short term, albeit a short-lived one.<\/p>\n
Follow Best Owie on Twitter<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from iStock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The recovery of Bitcoin and other cryptocurrencies at the start of the year brought about hopes that the bear market had finally come to an end. However, the market has since reversed with assets in the space losing a good portion of their Q1 gains. With the current trend, it is more than likely that the bear market is not over. Historical Bitcoin Trends Suggest Otherwise Over the last four bull markets that Bitcoin has seen since its inception, a number of things stand out. The first is that the bear market following a bull market does not seem to come to an end until the year of the halving. Related Reading: Here Are The Top 3 Chinese Coins To Buy As China Leads The Bull Run The Bitcoin Halving is an important event because it cuts down the BTC block rewards in half, hence reducing the number of new BTC being released into circulation. This is a bullish event and has always heralded the start of the bull market for the cryptocurrency. Currently, the market is still about a year away from the next Bitcoin halving set to happen in 2024, and if historical trends are anything to go by, then the bear market is likely to persist through 2023 and into early next year before the first hallmarks of the bull run are seen. Following previous trends, there could still be more pain for BTC to come. If it is to lose around 85% of its all-time high value as it did before the last bull run, then the bottom of the market has likely not been reached yet either. Each bull market began with a halving event | Source: BTCUSD on TradingView.com Investor Sentiment Remains Low After the euphoria of the pump in the first half of 2023 died down, investors have been at a loss when it comes to pitching their tents. As a result, investor sentiment has drawn to a standstill as the Crypto Fear & Greed Index now sits at a neutral 52. This means that investors are not doing anything bullish like buying more Bitcoin at this time, so the bear market is persisting as sellers continue to dominate. A return back into the greed territory would see prices rise again but this is unlikely given that buyers are likely waiting for BTC to revisit $20,000 before getting back in the game. Related Reading: Optimism Crashes 33% Following Token Unlocks, Why There Could Be More Pain To Come For now, BTC is still ranging below $27,000, a support level that bears have successfully flipped into resistance. However, it is still trading above its 100-day moving average, which suggests bullish momentum in the short term, albeit a short-lived one. Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026 Featured image from iStock, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":536079,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1119,1144,78790],"class_list":["post-536075","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\nThe Bitcoin Bear Market Is Far From Over, Here\u2019s Why<\/title>\n<meta name=\"description\" content=\"The recovery of Bitcoin and other cryptocurrencies at the start of the year brought about hopes that the bear market had finally come to an end. 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This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/uniquehot.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"The Bitcoin Bear Market Is Far From Over, Here\u2019s Why","url":"http:\/\/uniquehot.com\/news\/the-bitcoin-bear-market-is-far-from-over-heres-why\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/the-bitcoin-bear-market-is-far-from-over-heres-why\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/iStock-182744280.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/iStock-182744280.jpg?fit=2121%2C1414"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btc","btcusd","btcusdt"],"dateCreated":"2023-06-01T23:00:20Z","datePublished":"2023-06-01T23:00:20Z","dateModified":"2024-06-11T08:17:10Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"The Bitcoin Bear Market Is Far From Over, Here\\u2019s Why\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/the-bitcoin-bear-market-is-far-from-over-heres-why\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/the-bitcoin-bear-market-is-far-from-over-heres-why\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/iStock-182744280.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/iStock-182744280.jpg?fit=2121%2C1414\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btc\",\"btcusd\",\"btcusdt\"],\"dateCreated\":\"2023-06-01T23:00:20Z\",\"datePublished\":\"2023-06-01T23:00:20Z\",\"dateModified\":\"2024-06-11T08:17:10Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/iStock-182744280.jpg?fit=2121%2C1414","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/536075"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=536075"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/536075\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/536079"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=536075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=536075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=536075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}