Bitcoin Bear Market is Over
Goooood day Lions and what a wonderful day it is checking those balance sheets as nerves begin to ease as many wondered if this was a Bitcoin recovery or a slight move upward before another shocking retreat. But it is becoming safe to say that we are most likely looking at the end of the Bitcoin Bear Market and a Price recovery for the worlds most loveable digital asset, Bitcoin.
The cryptocurrency market has been in a state of flux over the past several months, and Bitcoin has been no exception. In 2021, Bitcoin reached an all time high and many were confident in Bitcoin breaching $US100,000 before entering into a bear market in 2022. This bear market was primarily caused by the Terra (Luna) and FTX collapse, leading many to question whether Bitcoin would ever regain its former glory.
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Bitcoin Price Stableising
It appears that the bear market is finally over. In recent weeks, Bitcoin has seen a significant surge in price, reaching seven out of eight key on-chain indicators and stabilising above the $US20,000 mark. This has led many people to conclude that the bear market is officially over and that Bitcoin is once again a strong opportunity.
So, what does this mean for investors? Firstly, it’s important to understand that the cryptocurrency market is highly volatile and can experience rapid changes in price. While the end of the bear market is a positive sign, it’s important to keep in mind that there is still a significant amount of risk involved with investing in Bitcoin.
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IS regulation fueling recovery?
It’s important to consider the factors that may have contributed to the end of the bear market. The growing acceptance of cryptocurrencies by both individuals and institutions has played a major role in the recent surge in price.
There is also more clarity in what regulation will look like with many nations declaring 'fair standards' and including Bitcoin and cryptocurrencies within current established regulations instead of establishing a new system.
The increased use of cryptocurrencies for payment and the growing popularity of Decentralised Finance (De-Fi) platforms has also contributed to the growth of the market as we being to see the Crypto Alt Market trend higher.
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Positive Market Signs
While the signs are currently looking positive for the end of the Bitcoin bear market and we now look to enter another Bull Market the sector still remains hesitant due to the latest scandal surrounding FTX and it's founder. In time as the sector becomes more transparent and systems developed to maintain accountability, it is beyond doubt that Cryptocurrencies are now here to stay with large percentages of populations now having some exposure to the sector.
Image sources provided supplemented by Canva Pro Subscription. This is not financial advice and readers are advised to undertake their own research or seek professional financial services. References used from @leoglossary for access to more information visit Leo Glossary
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Still a bear market. We are just in the accumulation sideways phase now.
When do you think it will go up? Do you think there will be a bottoming out or next move up?
Don't know. But, don't expect things to go up consistently until after the BTC halving.
I don't think we are out of the bear market just yet. From what I see, it could always be a dead cat bounce. I don't think it will drop down too much though but the price of BTC has a long way to go until we are back into a bull market. I tend to think we are just going to go sideways.
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Today is looking really good. Looks like we are in alt season! Hive is on a moon which is really excited.
I think it's too soon to say it is over
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