Grayscale investment, the most prominent digital asset manager in the world recently published a report – the investment manager evaluated the status of cryptocurrency now to earlier bear markets. As a result, they expect that the bear market may continue for an additional 250 days or 8 months.
Digital assets manager Grayscale stated that;
“Bitcoin is 222 days off the all-time high, which means we may see another 5-6 months of downward or sideways price movement.”
The report stated that the bear market cycle for cryptocurrencies will last 1275 days or four years. The cyclical bear and bull eriods in the cryptocurrency market are like traditional stock movements. The market cycle trend will change when the price drops below market price and Grayscale used the most popular BTC to track the changes.
According to Grayscale, the bear market began on June 13, 2022, when the realized price of BTC fell below its market price and the BTC bull surged to its all-time high record, last year was the longest since 2020.
According to the data, there were 391 days in the 2012 cycle where the realized price was less than the BTC market price and there were 364 days in the bear zone during the 2016 cycle.
The market peaked at 603 days in ’12, and the time it took to reach that point increased by about half a year for each subsequent cycle, 2016 took 786 days and 2020 took 952 days to the peak. The 2012 and 2016 cycles, which lasted 1,290 and 1,257 days, similarly, from high to low, fell by 73% and 84% respectively in 391 and 364 days.
As of July 12, 2022, the market completed 1,198 days of the current 2020 cycle, which could indicate that there are still almost four months left before the Realized Price crosses back over the Market Price.
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