The bear market already in motion for over 400 days and still darker days are expected going forward. However, according to one crypto analyst, Bitcoin is expected to “see a sustained rally soon.”
Bear market Expected to Persist Longer
Bitcoin is yet again in the red at $3,465 with 24-hours loss of 0.55 percent. The leading cryptocurrency that has been expected to hit the bottom but bounced back after hitting $3,422, as per the data provided by Coinmarketcap.
However, it doesn’t mean Bitcoin is out of the difficult situation yet as crypto analyst, Murad Mahmudov shared analysis on Twitter stating,
“Why I believe the famous 200-Week Moving Average support from the last bear cycle WILL BREAK during this bear market cycle.”
Right now, the market is in a state of gloom. However, the bear market is expected to persist longer, with this crypto winter already being the lengthiest one in the 10-year history of Bitcoin.
“Bitcoin appears to have stabilized again following a couple of…
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