Bitcoin Turns Higher After 14-Month Bear Market, Mirroring Past Gold Cycles
JH Kim
Summary
- An analysis said Bitcoin (BTC) is showing an uptrend after moving beyond the average duration of past bear markets in Bitcoin and gold.
- Bitcoin Magazine said bear markets in Bitcoin and gold have typically lasted about 14 months.
- Bitcoin is now rising in price after moving beyond about 14 months, resembling patterns seen at past bear-market turning points.
Forecast Trend Report by Period
Bitcoin (BTC) is showing gains after moving beyond the average duration of past bear markets in both Bitcoin and gold, according to an analysis.
Bitcoin Magazine reported on September 22 that bear markets in Bitcoin and gold have typically lasted about 14 months.
Bitcoin has now moved past that period, with its price rising.
That suggests Bitcoin’s recent trajectory resembles patterns seen at the end of past bear markets in both Bitcoin and gold.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.