After More Than 380 Days, Crypto Supporters Celebrate Surviving the Second-Longest Bitcoin Bear Market – Bitcoin News


On Saturday, members of the discussion board r/cryptocurrency mentioned how the present bear market is now the second-longest bear market within the historical past of bitcoin costs. In accordance with the discussion board submit, the present crypto winter has lasted greater than 380 days, just under the longest bitcoin downturn that befell in the course of the 2013-2015 bear market, which lasted 415 days in size.

‘Surviving a Bear Is a Ceremony of Passage’ — Redditors Focus on Surviving the Second-Longest Bitcoin Bear Run

Throughout the previous couple of months folks have been inquisitive about how lengthy the crypto winter will final and on Saturday, Nov. 26, 2022, the Redditor u/partymsl revealed a forum post on r/cryptocurrency declaring the present downturn as “the second-longest bear market ever for crypto.”

The submit’s creator notes that this crypto bear market is “prone to be the longest” and pressured that “surviving this [bear market] isn’t any joke.” Furthermore, u/partymsl additionally summarized how the creator defines a bear market, and defined that it’s “mainly an extended interval the place the value stays considerably under the current [all-time high].

After More Than 380 Days, Crypto Supporters Celebrate Surviving the Second-Longest Bitcoin Bear Market
Bitcoin LOG chart by way of Tradingview and the Redditor u/partymsl.

“With one other black swan in crypto and one other leg down, this time because of FTX, we at the moment are formally within the second-longest bear market ever, an achievement I have no idea whether or not we ought to be happy with,” the r/cryptocurrency submit’s creator notes. “Particularly as with the present sentiment globally, this might very properly be probably the most brutal and longest bear market.”

In accordance with the creator, the 2018-2019 bitcoin bear market lasted 12 months, and the present downturn is now over 380 days. The Redditor u/partymsl additionally famous that its “extremely unlikely” crypto costs have hit the underside. Furthermore, with 380 days underneath the belt, the creator highlights that the present crypto bear market is getting awfully near eclipsing bitcoin’s 2013-2015 bear run.

“To turn out to be the best crypto bear market we’re not too far off both, the 2013-2015 bear market took 415 days, which might put us in early January which could be very prone to nonetheless be in a bear market,” u/partymsl defined on Saturday. The Redditor’s submit was a well-liked one on r/cryptocurrency with 89% upvotes and 514 of them on the time of writing. The creator’s two cents additionally acquired many feedback from fellow Redditors who additionally mentioned the chart u/partymsl shared with the submit.

“​​Surviving a bear is a ceremony of passage. Turns rookies into veterans,” one particular person said. “40 thousand folks used to submit right here, now it’s a ghost city,” one other individual replied referring to r/cryptocurrency’s decline in posts for the reason that bull run. “Quitters by no means win,” one other Redditor snarked. The submit’s creator reminded crypto bear market survivors that they need to be happy with their dedication and making it this far.

“You may quickly name your self a survivor of probably the most brutal and [longest] crypto bear market in historical past and that isn’t simple,” the Redditor u/partymsl concluded. “Tens of millions of individuals left the markets and we’re actually the final ones standing. For coming this far and probably even additional, you all deserve a pat in your again. Properly Finished.”

Tags on this story
2013-2015, 2018 downturn, 380 days, 415 days, Bear Market, bear markets, Bitcoin, Bitcoin (BTC), bottom, BTC, Bull run, chart, Crypto forum, Crypto Market Bottom, crypto winters, discussion, Forum Post, LOG chart, r/Cryptocurrency, Reddit, Redditors, second-longest bear market, second-longest downturn, survivor, survivors, u/partymsl

What do you consider the present bear run turning into the second-longest downturn and the way it might surpass the longest bear run? Tell us what you consider this topic within the feedback part under.

Jamie Redman

Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist residing in Florida. Redman has been an lively member of the cryptocurrency group since 2011. He has a ardour for Bitcoin, open-source code, and decentralized purposes. Since September 2015, Redman has written greater than 6,000 articles for Bitcoin.com Information concerning the disruptive protocols rising as we speak.

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