Bitcoin approaching the record cycle for the bear market data showing

Since the birth of Bitcoin, approaching the date of the longest bear market. The previous longest period of Bitcoin bear market was in 2014-2015 where the bear market least for 380 days. On 2nd February 2019, it will be 380 days of the present bear market.

Bitcoin’s massive sell-off from the 2017 top is neither its longest nor its most severe. So far, an 85% draw down over 380 days.

Compare to previous two..

2011: 93% drawdown over 109 days (which took ~1.5 years to recover)

2013: 86% drawdown over 407 days (which took ~2 years to recover)

Bitcoin Biggest Crashes in History

With so much hype in 2017 around Bitcoin, it may seem that the bearish trend is ready to over, and its price will soar slowly in 2019. However, the crypto currency experts have diverged opinions about the future of BTC, so it’s hard to come to some firm conclusion.

In this case, crypto community seeks information through technical analysis. Bitcoin will once again in a healthier state, rising above $20,000.

Trading volumes is extraordinarily frenetic across the exchanges yesterday. The correction is expected and it will have a big one.

Bitcoin Volume in 2018 – 2019

Bitcoin Rebound after each bear cycle

Bitcoin is fast approaching the date of the longest bear market in its 10-year history. The previous longest period of Bitcoin bear market was in 2013 where the bear market take 2 years to recover. On 2nd February 2019, it will be 380 days of the present bear market.

Bitcoin is currently trading at $3,455 and has a 53.4% market domination. What is interesting is the while the crypto currency is in a bear market, the transaction volume is up. Even the number of new Bitcoin addresses have increased.