A group of cryptocurrency analysts has identified new market trends, indicating what they believe is the imminent death of the dreaded Bitcoin “bear market.”

In a number of charts uploaded to social media on May 23rd, the group known as “The Crypto Fam” came to the conclusion that BTC/USD was coming to the end of a three-cycle bearish phase which began in mid-December 2017.

According to their findings, institutional investors were “clearly stocking up” on Bitcoin prior to the all-time highs seen at the time. They then began massive selling in waves, which in part explains one of our previous reports on rampant market manipulation. Each incident resulted in three peak-and-trough cycles, for which every round was less severe than the last.

In a brief chart thread posted on Twitter, The Crypto Fam defines their thesis.

The Crypto Fam writes: “The bear market has consisted of 3 major drives down, represented by black arrows in the chart below. We are currently in the midst of the 3rd drive down, awaiting a bottom.”

Slaying the bears

The comments come at a time when Bitcoin prices are in flux again, dropping for a fourth time and losing as much as 13% since May 20th towards the $7400 play-area.

Some analysts have attributed this jaded cryptocurrency performance to various factors this year, including Mt. Gox investor funds sell-offs, regulatory pressure, and yet even more institutional investors “waiting on the sidelines” for the best entry.

Back in February, Goldman Sachs-backed Circle clearly delineated its plans to enter the market by acquiring the US crypto exchange Poloniex.

Meanwhile, as things progress, The Crypto Fam have staked their reputation in saying that a definitive end to the trend is already in sight.

As each boom-and-bust is less pronounced in volume and volatility compared to the previous one, Bitcoin markets are moving from bearish, to neutral, to consolidation territory, with new drops likely to be either trivial or a signal for another buying run.

The analysis concludes: “All of these signs point to an imminent end to the trend. Bounces are not going as high, while bottoms are not as low. The black lines show this convergence. It is almost time for whales to begin accumulating their BTC again, rather than distributing/taking profits.”

If this analysis proves correct, we should expect a true cryptocurrency breakout in the coming days to weeks.