Bitcoin Bear Market Comparison Says It Is Almost Time For Bull Season


There is no denying that Bitcoin has been riven by bears over the past several months after hitting a new all-time high in November of last year. Even with the new highs, the hike is largely seen as a failure without it Dramatic course conclusion.

But what if this rally was part of a bearish phase that is only now about to end? In a new direct comparison of Bitcoin bear stages since 2018, it could indicate that it is almost time for another bull season any day now.

Cyclic behavior of a bull market

Months ago, the term “few” was thrown up by the crypto community because not enough people understood the potential of what Bitcoin could offer them financially. Today, very few people Predicting the rise of Bitcoin from here.

Oftentimes, when hive feelings are at their most frothy, deep corrections put the masses right. Right now, Bitcoin bears are drooling at under $30,000, but they may never get it according to New comparison.

Related reading | Bitcoin mimics the sentiment cycle in the textbook market, what happens when confidence returns?

Market exhibits cyclical behavior on multiple time frames. There are bear and bear markets, and even bullish and bearish trends within them that alternate based on mood.

But what if these alternating patterns of mood changes were to be expected? This is what the comparison below aims to find out.

BTCUSD_2022-04-15_10-16-09

This comparison chart says it is time's up for bears | Source: BTCUSD on TradingView.com

Bitcoin Bear Stages Comparison

In the comparison above, the bear market 2018, 2019 to 2020 bear phase, and the current consolidation phase are side by side. Each fractal measures in approximately 460 days. Alternating between each bearish phase is a short bullish impulse that shocks the world.

Bullish impulses last only 98 days, but they tend to take prices to unprecedented levels. At least, these bull runs have produced over 300% ROI. A return of 300% of $40,000 will take the price of BTC to $120,000.

Related reading | This Bitcoin ‘heat map’ indicates that a scorching peak cycle is on its way

Each bear stage lasted just over 14 months. Edwin “Sedge” Coppock, creator of the eponymous technical indicator kobuk curve, found that the average time it took for a person to get over mourning the loss was on average 11 to 14 months. This, in theory, is how long it should take the average investor to get over their Bitcoin “loss” and be able to think positively again.

With only days left until another bullish impulse begins based on the above comparisons, will Bitcoin really drop below $30K as the market prepares, or will a reversal surprise the community?

Follow TonySpilotroBTC on Twitter or join TonyTradesBTC Telegram Get exclusive daily market insights and technical analysis education. Please note: The content is educational and should not be considered investment advice.

Featured image from iStockPhoto, Charts from TradingView.com





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