Grayscale Hiweiser op genauen Zäitframe Fir Lafende Biermaart Prognose

Just as Bitcoin breached $22,000 range on Monday, much of the talk is on if Bitcoin bottom is potentially in already. However, several big investors caution against hurrying up to take a position right away. In the meanwhile, Grayscale came up with a report on the whereabouts of the ongoing Bitcoin bear market cycle.

Duration Of Crypto Market Cycles

The digital currency investing company observed that crypto markets too flow in cycles, just like financial markets. On an average, crypto market cycles last nearly four years, it said, adding that Bitcoin’s realized price could be effective in gauging the cycle timeline. The Bitcoin realized price is the total of all purchase values divided by the number of BTC in circulation currently.

The Grayscale report indicates that the Bitcoin realized price went below market price last week, which signals the arrival of bear market. It also suggested that the bear market could prolong to as many as eight months from now.

"Vum 13. Juni ass de realiséierte Präis vu Bitcoin ënner dem Maartpräis gekräizt, wat signaliséiert datt mir offiziell e Bärmaart aginn hunn. Just 21 Deeg an dëser Zone kënne mir nach 250 Deeg vun héichwäertege Kaafméiglechkeeten gesinn am Verglach zu fréiere Zyklen.

When Will Bitcoin Show Upward Movement?

The current cycle, which began in 2020, could witness another four months until any progressive movement is shown, the report added. After four months, there is possibility that the realized price could come back to above the market price. Going forward, this helps in finding when the market begins to move out of bear market, Grayscale said. Also, Bitcoin is 222 days off the all Zäit héich, which means we may see “another 5-6 months of downward or sideways price movement.”

Interestingly, Bitcoin’s movement in the all time high range last year was longer than in previous cycles. This was because of “the growing maturity of the crypto market” this time around, Grayscale explained. As of writing, BTC is trading at $22,218, rising 4.35% in the last 24 hours, according to price tracker CoinMarketCap. On a weekly basis, Bitcoin is up by around 8%.

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Dee presentéierten Inhalt kann d'perséinlech Meenung vum Autor enthalen an ass ënner Zoustand vum Maart. Maacht Är Maartfuerschung ier Dir a Kryptowärungen investéiert. Den Autor oder d'Publikatioun huet keng Verantwortung fir Äre perséinleche finanzielle Verloscht.