$BTC Bitcoin just ended a long period of negative year-over-year returns Bitcoin just ended a long period of negative year-over-year returns
If the year-on-year return rate of Bitcoin is negative, it is judged as a#bearmarket, and if the year-on-year return rate is positive, it is a#bullmarket. That was on June 12th when Bitcoin exited its longest bear market ever.
Bitcoin’s year-over-year returns have been negative for 490 consecutive days, a new record, with returns as low as -83.6% over the same period. The previous record was 353 days between November 2014 and October 2015. The bear market entered last year in early February, when Bitcoin was trading at $44,000, about 35% below its November 2021 high of $69,000.
Bitcoin has been in a bull run for the past 24 days. Year-on-year returns during the same period have exceeded 61%.
But this does not mean that the market is safe and sound. This is just a method of judging bull and bear markets, and history does not represent the past. It is possible for the year-on-year return rate to turn negative again and enter a bear market again.