Summary
- An analysis said Bitcoin (BTC) is rising after moving beyond the average duration of past bear markets in Bitcoin and gold.
- According to Bitcoin Magazine, past bear markets in Bitcoin and gold typically lasted about 14 months.
- Bitcoin has now moved beyond the average bear-market duration and is rising, showing a pattern similar to past bear-market turning points.
Forecast Trend Report by Period
Bitcoin (BTC) is rising after moving beyond the average duration of past bear markets in both Bitcoin and gold, according to an analysis.
Bitcoin Magazine reported on Sept. 22 that bear markets in Bitcoin and gold have typically lasted about 14 months.
Bitcoin has now moved beyond that period and its price is climbing.
That has prompted comparisons between Bitcoin's recent price action and the pattern seen near 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.