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 keeping with the discussion board submit, the present crypto winter has lasted greater than 380 days, slightly below 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 individuals have been interested in how lengthy the crypto winter will final and on Saturday, Nov. 26, 2022, the Redditor u/partymsl revealed a discussion board submit on r/cryptocurrency declaring the present downturn as “the second-longest bear market ever for crypto.”
The submit’s writer notes that this crypto bear market is “prone to be the longest” and pressured that “surviving this [bear market] is not any joke.” Furthermore, u/partymsl additionally summarized how the writer defines a bear market, and defined that it’s “principally a protracted interval the place the worth stays considerably under the current [all-time high].
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 as a consequence 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 needs to be pleased with,” the r/cryptocurrency submit’s writer notes. “Particularly as with the present sentiment globally, this might very effectively be essentially the most brutal and longest bear market.”
In keeping with the writer, 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 beneath the belt, the writer highlights that the present crypto bear market is getting awfully near eclipsing bitcoin’s 2013-2015 bear run.
“To grow 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 may 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 writer’s two cents additionally obtained 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 mentioned. “40 thousand individuals 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 writer reminded crypto bear market survivors that they need to be happy with their willpower and making it this far.
“You’ll be able to quickly name your self a survivor of essentially the most brutal and [longest] crypto bear market in historical past and that isn’t straightforward,” 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. Effectively Performed.”