all about cryptop referances
On Saturday, members of the r/cryptocurrency forum discussed how the current bear market is now the second longest bear market in the history of bitcoin prices. According to the forum post, the current crypto winter has lasted more than 380 days, just short of the longest bitcoin slump that took place during the 2013-2015 bear market, which lasted 415 days.
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 published a forum post on r/cryptocurrency that declared the current decline “the second longest bear market ever for crypto.”
The post’s author notes that this crypto bear market “will likely be the longest” and emphasized that “surviving this [bear market] is no joke.” Moreover, u/partymsl also summarized how the author defines a bear market, explaining that it is “basically a long period where the price remains significantly below the last [all-time high].
“With yet another black swan in crypto and another leg down, this time due to FTX, we are now officially in the second longest bear market ever, an achievement I don’t know if we should be proud of,” writes r/cryptocurrency- posted author’s notes. “Especially as with today’s sentiment globally, this could very well be the most brutal and longest bear market yet.”
According to the author, the 2018-2019 bitcoin bear market lasted 365 days, and the current decline is now over 380 days. Redditor u/partymsl also noted that its “highly unlikely” crypto prices have bottomed out. Also, with 380 days under its belt, the author highlights that the current crypto bear market is coming very close to eclipsing bitcoin’s 2013-2015 bear run.
“To become the biggest crypto bear market 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 still in a bear market,” u/partymsl explained on Saturday. The 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 many comments from other Redditors who also discussed the chart u/partymsl shared with the post.
“Surviving a bear is a rite of passage. Turns newbies into veterans,” one person said. “40k people used to post here, now it’s a ghost town,” another person responded, referring to r/cryptocurrency’s drop in posts since the bull run. “Quitting never wins,” snarled one another Redditor The post’s author reminded survivors of the crypto bear market that they should be happy with their determination and getting this far.
“You can soon call yourself a survivor of the most brutal and [longest] crypto bear market in history and it’s not easy,” Redditor u/partymsl concluded. “Millions of people left the markets and we’re really the last ones standing. For making it this far and possibly even further, you all deserve a pat on the back. Well done.”
What do you think about the current bear run being the second longest decline and how it could surpass the longest bear run? Let us know what you think about this topic in the comments section below.
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