Longest Bear Market ever in Bitcoin History
Bitcoin is facing the longest bear market in 10-year history.
Bitcoin the world’s oldest and most valuable cryptocurrency also know as the King of the Crypto market achieves its all-time high (ATH) on 17 December 2017 price touched $19760. The bear market is now 414 days long and makes a record on 2 Feb 2019 of the longest bear market in Bitcoin (BTC) history.
The previous bear market in Bitcoin is 410 days long and hit the market in 2013-2015.
Bitcoin Historical Price Declines:
2011- 2012 Drops from $31.50 to $2.01 (more than 93% drop)
2013-2015 Drops from $1190 to $210 ( more than 85% drop)
2017 continues Drops from $19760 to $3200 ( 83% drop)
No one knows when the market downtrend will end and we see an increase in the price of the cryptocurrencies. Adoption is on the way and institutional investors are waiting for Bitcoin (BTC) Exchange Traded Funds (ETF) eagerly. Bakkt and Fidelity are in its final stages to introduce cryptocurrencies to their users. According to crypto experts Bitcoin (BTC), the bottom is near.
Bitcoin halving is in May 2020. Halving is a process which occurs every 4 years or every 210,000 blocks and reduces the block reward by half.
In 2009 when Bitcoin (BTC) is introduced to the world the reward per block is 50 BTC. After 2012 halving block reward reduced to 25 BTC which fuels the bull run of 2013 leading the Bitcoin price to $1190.
After 2016 halving block reward is reduced to 12.5 BTC which is the key factor of the massive bull run of 2017 leads the price to $19760.
Next halving takes place in May 2020 and the reward per block is reduced to 6.25 BTC. We hope that Bitcoin will follow its previous steps and may see a massive bull run in 2021-2022.
Bitcoin Halving and Price History
1st halving (11/28/2012): Price bottomed 378 days before then rose 510%
2nd halving (07/09/2016): Price bottomed 539 days before then rose 309%
3rd halving (~05/25/2020): Roughly 497 days until halving
The next halving is there in less than 500 days, we see that the end of this bear market is not so far.
Long Bitcoin Short the Bankers
