397 days of Bear Market...
...that's how long we've been going down since BITCOIN peaked at $69,000 on November 11th, 2021.
I'm not going to say that it feels already like an "eternity", but taking into account the situation in which we find ourselves worldwide, this Bear Market can take a very, very long time still in my modest opinion.
Like the previous bullish cycle, we did not reach the ceiling that many, including myself, predicted according to multiple historical parameters, which, it is fair to say that most of them have obstreperously failed or almost, so, why not the duration of the Bear market?
To date, we can recognize the following BTC durations and declines:
Duration: ~185 days + months of market-moving sideways
Decline: -40%
Duration: ~415 days + months of market-moving sideways
Decline: -83%
Duration: ~365 days + months of market-moving sideways
Decline: -84%
Duration: ~260 days
Decline: -62%
(Source)
Currently, we have only barely a month in a market-moving sideways, with what we could say that we have been in the declining market for 367 days and 30 days in the sideways market, for the moment and, in my opinion, and I think that in most of us, we would be left one last dump to hit rock bottom. I don't know what the trigger for this last dump will be, I just hope it's neither BINANCE nor TETHER failure because if it were like that, we would also break the bottom reached in the last great Bear Market.
Nothing is for sure, neither if we take into account the historical data it seems cannot guarantee an accurate approach of the Bear Market duration.
On the other hand, the fear scenario that accompanies us does not seem to favor that we could declare a bottom of the Bear Market soon.
Inflation continues unbridled, which should not be a negative aspect for BITCOIN imo, the FED will continue raising interest rates during 2023, the war in Ukraine does not seem to have an end date near and CBDC's and Digital ID's seem to threaten us with making things very difficult for Crypto...
Everything indicates that we are heading towards the longest of the Bear Markets in BTC to date.
Time to emphasize how important this period of time is for us, if we ever believed in the success of a "better/sound money.
It is undoubtedly the best moment for the brave, to accumulate SATOSHI after SATOSHI, HIVE after HIVE... little by little but without pause, just spending another day in the office but without giving up while living possibly in the longest Bear Market ever...
Stay safe.
@toofasteddie