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 put up, the present crypto winter has lasted greater than 380 days, slightly below the longest bitcoin downturn that passed off throughout 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 printed a discussion board put up on r/cryptocurrency declaring the present downturn as “the second-longest bear market ever for crypto.”

The put up’s creator notes that this crypto bear market is “prone to be the longest” and confused that “surviving this [bear market] isn’t any joke.” Furthermore, u/partymsl additionally summarized how the creator defines a bear market, and defined that it’s “principally an extended interval the place the value stays considerably beneath the current [all-time high].

After More Than 380 Days, Crypto Supporters Celebrate Surviving the Second-Longest Bitcoin Bear Market
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 on account 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 must be pleased with,” the r/cryptocurrency put up’s creator notes. “Particularly as with the present sentiment globally, this might very nicely be probably the most brutal and longest bear market.”

In keeping with the creator, the 2018-2019 bitcoin bear market lasted one year, 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 creator highlights that the present crypto bear market is getting awfully near eclipsing bitcoin’s 2013-2015 bear run.

“To change into the best crypto bear market we aren’t too far off both, the 2013-2015 bear market took 415 days, which might put us in early January which could be very prone to nonetheless be in a bear market,” u/partymsl defined on Saturday. The Redditor’s put up was a well-liked one on r/cryptocurrency with 89% upvotes and 514 of them on the time of writing. The creator’s two cents additionally obtained many feedback from fellow Redditors who additionally mentioned the chart u/partymsl shared with the put up.

“​​Surviving a bear is a ceremony of passage. Turns rookies into veterans,” one particular person mentioned. “40 thousand individuals used to put up right here, now it’s a ghost city,” one other particular person 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 put up’s creator reminded crypto bear market survivors that they need to be happy with their dedication and making it this far.

“You’ll be able to quickly name your self a survivor of probably the most brutal and [longest] crypto bear market in historical past and that’s not straightforward,” the Redditor u/partymsl concluded. “Hundreds of thousands 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. Properly Performed.”

Tags on this story
2013-2015, 2018 downturn, 380 days, 415 days, Bear Market, bear markets, Bitcoin, Bitcoin (BTC), backside, BTC, Bull run, chart, Crypto discussion board, Crypto Market Backside, crypto winters, dialogue, Discussion board Publish, LOG chart, r/Cryptocurrency, Reddit, Redditors, second-longest bear market, second-longest downturn, survivor, survivors, u/partymsl

What do you consider the present bear run changing into the second-longest downturn and the way it may surpass the longest bear run? Tell us what you consider this topic within the feedback part beneath.

Jamie Redman

Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist residing in Florida. Redman has been an lively member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized functions. Since September 2015, Redman has written greater than 6,000 articles for Bitcoin.com Information concerning the disruptive protocols rising at the moment.




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