Bitcoin Bear Cycle Could Last 8 More Months
In its recent report, ‘Bear Markets in Perspective,’ Grayscale, the world’s largest digital asset manager, compared the current bear market to previous market cycles in an attempt to predict the end of the crypto winter.
According to Grayscale Investment, the average crypto market cycle lasts for around four years, or approximately 1,275 days.
The digital asset manager writes that, if previous market cycles are anything to go by, Bitcoin enthusiasts could be waiting another 250 days to see the end of the bear market cycle, which started in 2020.
The Crypto Market Is Maturing
Grayscale explained that Bitcoin’s run to its ATH in November 2021 was a recovery that lasted longer than those of previous cycles. It theorizes that the bullish run may be due to the “growing maturity of the crypto market.”
The digital asset manager adds that the maturing of the crypto market has made it easier for retail and institutional investors to have higher confidence investing in crypto assets, compared to in previous market cycles.
Grayscale remarked that, in their view, the current price of Bitcoin represents a prime opportunity to buy the asset.
On the Flipside
Why You Should Care
Grayscale concludes that, regardless of the severity of each market cycle, the crypto industry will always comes out stronger in the end.
Read more about CZ’s Bitcoin predictions below:
Binance CEO: Bitcoin Could Stay Below $69,000 Peak for Two Years
For an update on the Grayscale spot Bitcoin ETF, check out:
Grayscale Launches Legal Battle Against SEC for Rejecting Spot Bitcoin ETF
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Source: Cryptocurrency - investing.com
