At least that’s how long the crypto bear market will last

A highly quoted analyst reveals, how long he thinks the current crypto bear market will last at least – and what are the reasons for this.

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Bitcoin, Ethereum & Co .: digital assets under pressure

The bear market has hit the crypto markets with full force, most coins trade well below their record highs: Bitcoin, for example, had to lose more than a third of its value, and Ethereum is also massively below the record rate of 76%.

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Numerous Altcoins have even 95% + withdrawn from record prices, such as meme coin king Dogecoin: DOGE has fallen as much as 90.85% from the highest level of $ 0.7376. Ripple’s XRP has lost 91.55% since reaching its highest level of $ 3.84. In short: The digital assets are struggling as they have not been for a long time.

Many investors currently suspect that the bull market will return, even if there are small price jumps. However, a popular analyst is convinced that it will be a long time before BTC and Co. find back to their old size. So how long could the bear market last?

Top analyst expects nearly two years of bear market

According to top analyst and trader Justin Bennett, investors still have plenty of time to position themselves for the next bull run and buy cryptocurrencies. According to Bennett The strength of the US Dollar Index (DXY) is putting pressure on the crypto markets.

Background: DXY measures the strength of the USD against a basket of currencies. Specifically, the relationships at the moment look like this:

  • Euro (EUR) 57.6%
  • Japanese Yen (JPY) 13.6%
  • Pound Sterling (GBP) 11.9%
  • Canadian Dollar (CAD) 9.1%
  • Swedish kronor (SEK) 4.2%
  • Swiss franc (CHF) 3.6%

But what does this have to do with Bitcoin and the crypto markets? “Many will not like it,” the industry observer begins his analysis, but:

“DXY closed above a significant multi-year level in June, and today we see new 20-year highs for the dollar index.

All signs point to 120, indicating a further 12-20 months of subdued movement in equities and cryptocurrencies. “

So Bennet expects a bear market to last at least a year – possibly almost two. However, there is one factor that gives hope, according to the “CryptoAcademyHQ” founder.

Because: Bennett estimates that there will still be some price explosions within this time.

“Here is the silver …

This is the monthly chart and 12-20 months is a long time. So it is very likely that we will see more recovery meetings in cryptocurrencies during this period. “

Just because DXY is on the rise does not mean that risky assets like cryptocurrencies cannot stabilize or even recover.

It should also be taken into account that Bitcoin has always known to surprise in the past. It is still unknown whether the bearish phase in the markets will actually last that long. BTC is notorious for being able to rise very suddenly, very quickly.

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Last updated on July 6, 2022

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