This has caused many investors to suffer losses with the declines. Bitcoin (BTC) and altcoins, still in the bear market.
While losing investors look forward to the start of the next bull market, crypto analyst Kevin Svenson made a comment that would delight investors.
Sharing on his Twitter account, Kevin Svenson compared Bitcoin’s historical bear markets.
Adding a graphic to his share, the analyst said, BTC showed average bear market lengths.
When the analyst looks at historical bear market trends, the next bitcoin He stated that he predicted that the bull market could start in April 2023.
For the years 2013, 2017 and 2021 bitcoin Marking bullish pivots as well as cycle tops, Svenson also noted how long bear markets last before they take an upside turn.
Stating that it took 81 weeks for the bear market in 2013 to end and start to rise, and 68 weeks for the 2017 bear market, Svenson said:
“Looking at the average of previous bear market times in Bitcoin, I concluded that the next bull market should start an average of 75 weeks after the November 2021 cycle peak. “
#Bitcoin Average Bear Market Length pic.twitter.com/3in9MsLaK2
— Kevin Svenson (@KevinSvenson_) October 19, 2022
Bitcoin, which is quite far from its ATH of $ 69,000 in November 2021, is trading at $ 19,209 at the time of writing.
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