Prominent cryptocurrency one of the stock markets BitMEXmade a prediction about when the bear market will end in a blog post he published.
Realized Value Ratio of Bitcoin’s Market Cap (MVRV), BitMEX estimated that we are still at the beginning of the current bear market compared to the previous bear markets.
Comparing the current bear market with other bear markets, BitMEX thinks that the price cycle that took place in the middle of the previous bear markets can be experienced in early 2023, considering the MVRV ratio.
So according to BitMEX, in Bitcoin (BTC) Until the beginning of 2023, the effects of the bear market will be seen and BTC however, it will be able to see a recovery early next year that will lead to an exit from the bear market.
“Bear market cycles take time to emerge and vary in length depending on how you define them.
Looking at the other three major bear market cycles and the MVRV ratio, the market price remained below the actual price for an average of 244 days.
Currently, for less than 30 days, the market price is below the actual price.
Looking at the 244-day average of bearish periods in the previous bear markets, it seems that Bitcoin’s recovery above the realized price level may occur as early as February 2023.”
Finally bitcoin Stating that the current bear market is not different from other bear cycles, BitMEX said:
“Ironically, the current bear cycle doesn’t look all that different from past bear cycles.
In recent days, Bitcoin is about 70% below its previous ATH and the peak of the decline reached 71.86% on May 18.
Bitcoin has seen declines of 93.08%, 84.82% and 83.47%, respectively, in past bear markets.
Considering these dips, the current bearish dip is relatively not unusual for Bitcoin, although it seems to eclipse previous dips.”