The estimated percentage of Bitcoin in the loss range as of 2024 is similar to the big correction during the 2020 bull cycle.

In 2020, there was a bigger crash due to Covid-19, but the cryptocurrency market surged due to the strong liquidity supply caused by the Fed's unlimited quantitative easing policy.

As of 2024, it is difficult to implement a quantitative easing policy as fast as in 2020, but it is expected that liquidity will be supplied to the cryptocurrency market because it has gone through a sufficiently long adjustment and the possibility of moving to a rate cut and quantitative easing mode in the future is very high.

Although the market has recently been suffering greatly, it may be too early to conclude that there is a bear market.

Written by Crypto Dan