Experts believe that bears completely controlled Bitcoin

Analysts say the bear market has arrived due to social trends and investor sentiment. On the other hand, proponents argue that the current bear market is shorter than the previous ones.

Dealers confirm The bull market is over

Based on data from the Santiment crypto information platform, social trends from traders confirm that crypto is in a full-blown bear market. The downward mood from mid-May 2021 prevailed in 2022 as new investors and traders continued to surrender.

https://twitter.com/santimentfeed/status/1480427806064402433?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener

“Our social trend data confirms that the trading crowd feels that crypto is in a full-blown bear market. The last time is in mid-May Discount so fashionable this is a very promising sign hand The weak surrender ”.

According to analyst and trader BitBit, the bear market is still there. The launch of a custody exchange traded fund (ETF) in 2022 could trigger a massive bull run for Bitcoin.

https://twitter.com/BitBitCrypto/status/1480288872928092168?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener

“You have to know why we are here to understand what’s going to happen. IMO the bear market is here but not for long. I assume that a real custody ETF will come onto the market this year or early next year that will trigger another big bull run before that. “

Analyst and trader Mayne believes there will be some rally during the bear market. According to him, cryptocurrency prices are not rising in a straight line, nor are they falling in the same way.

https://twitter.com/Tradermayne/status/1479953860785582087?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener

“Some of my favorite rallies to trade in the market bear. I’m not saying we’re in the market but wear could be So. WOODit is as if things are not going up in a straight line, it It doesn’t go straight down either. “

Tedtalksmacro noted that both bull and bear markets are getting shorter and shorter in the crypto ecosystem. The analyst recommends traders to familiarize themselves with the area-based price action.

Historically, previous bear markets have often resulted in short-term gains until traders became more confident and fearless. The Bitcoin Fear and Greed Index, an indicator of traders’ sentiment towards the asset, indicates “extreme fear”. This means a bear market.

Other analysts have assessed Bitcoin’s trend and predict that the asset is threatened with a decline to $ 37,000. Bitcoin is currently trading at $ 41,026.

Source: Tradingview

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