The crypto market is currently experiencing an imbalance between hope, psychology, and complacency. Bitcoin holders are showing more confidence than in previous cycles, which weakens the possibility of a bear market. However, NUPL indicators show that the BTC price is at risk of falling to $40,000, which could signal the winter period. Bear markets in cryptocurrency markets usually last a year, but can sometimes extend up to two years. This phase causes prices to fall for a long time as supply exceeds demand.
One of the most severe bear markets of 2022 began with the collapse of the FTX exchange in a major scandal. This crash sent shockwaves through the markets and caused the collapse of many hedge funds and lending protocols, dealing a major blow to the industry.
A Study on Cryptocurrency Bear Market Psychology
There has been a lot of discussion recently about whether the crypto market is back in a bear phase. Many cryptocurrencies have struggled since Bitcoin (BTC) reached a high of $73,750 in March, raising concerns about whether the market could be in for a prolonged downturn.
An unexpected event occurred before the halving and sent shockwaves through the market. At the time, many analysts predicted that crypto prices would reach higher levels. However, this did not happen. Instead, the price of BTC consolidated, fell, or made false breakouts along with other cryptocurrencies.
These factors have led some market participants to suggest that a bear phase may be beginning in the market. To better assess this possibility, BeInCrypto is gaining insights by examining the market cycle psychology chart.
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So who can benefit?
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I EXPLAIN IN DETAILED.
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WHEN WILL THE REWARD COME?
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