On Saturday, members of the r/cryptocurrency forum explained how the current bear market is now the second longest bear market in bitcoin price history. According to the forum post, the current crypto winter lasted over 380 days, just below bitcoin’s longest downturn that occurred during the 2013-2015 bear market, which lasted 415 days.
“Surviving a bear is a rite of passage” – Redditors discuss surviving the second longest running Bitcoin bear
Over the past few months people have been curious about how long the crypto winter will last and on Saturday, November 26, 2022, Redditor u/partymsl posted a forum post on r/cryptocurrency stating that the current downturn was ” the second longest”. bear market ever for crypto.
The author of the article notes that this crypto bear market is “probably the longest” and pointed out that “surviving this [bear market] is not a joke. Additionally, u/partymsl also summarized how the author defines a bear market and explained that it is “essentially a long period where the price remains significantly lower than the recent [all-time high].
“With another black swan in crypto and another leg down, this time thanks to FTX, we are now officially in the second longest bear market ever, an achievement I don’t know if we should be proud,” the r/cryptocurrency post said. author’s notes. “Especially as with current sentiment globally, this could very well be the most brutal and longest bear market ever.”
According to the author, the 2018-2019 bitcoin bear market lasted 365 days, and the current downturn is now over 380 days. Redditor u/partymsl also noted that its “highly unlikely” crypto prices have bottomed out. Additionally, with 380 days under its belt, the author points out that the current crypto bear market is awfully close to the eclipse of bitcoin’s 2013-2015 run.
“To become the biggest bear market in crypto we’re not too far off either, the 2013-2015 bear market took 415 days which would put us in early January which is very likely to still be in a bear market,” u/partymsl explained. Saturday. Redditor’s post was popular on r/cryptocurrency with 89% upvotes and 514 of them at the time of writing. The author’s two cents also received plenty of comments from fellow Redditors who also discussed the graphic that u/partymsl shared with the post.
“Surviving a bear is a rite of passage. Turn rookies into veterans,” one person said. “40,000 people used to post here, now it’s a ghost town,” another person replied referring to the drop in r/cryptocurrency posts since the bull run. “Quiters never win,” squealed another Redditor. The author of the article reminded survivors of the crypto bear market that they should be happy with their determination and having made it this far.
“You will soon be able to consider yourself a survivor of the most brutal and violent events. [longest] crypto bear market in history and it’s not easy,” Redditor u/partymsl concluded. “Millions of people have left the markets and we are really the last ones standing. For coming this far and maybe even further, you all deserve a pat on the back. Well done.”
What are your thoughts on the current run down becoming the second longest recession and how it could overtake the longest run down? Let us know what you think about this topic in the comments section below.
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