On Saturday, members of the forum r/cryptocurrency discussed how the current bear market is now the second-longest bear market in the history of bitcoin prices. According to the forum post, the current crypto winter has lasted more than 380 days, just below the longest bitcoin downturn that took place during the 2013-2015 bear market, which lasted 415 days in length.
‘Being a bear is a rite of passage’ – Redditors discuss surviving the second longest Bitcoin Bear Run
During the past few months people have been curious how long the crypto winter will last and on Saturday, November 26, 2022, Redditor u/partymsl published a forum post on r/cryptocurrency declaring the current recession the “second longest ever”. to be done. Bear market for crypto.
The post’s author notes that this crypto bear market is “likely to be the longest” and stressed that “surviving this [bear market] is no joke.” Moreover, u/partymsl also summarized how the author defines a bear market, and explained that it’s “basically a long period where the price remains significantly below the recent [all-time high].
“With another black swan in crypto and another foot down, this time due to FTX, we are now officially in the second longest bear market, a feat I don’t know we should be proud of,” r/ Author Notes of the Cryptocurrency Post. “Especially with the current sentiment globally, this could be the most brutal and longest bear market yet.”
According to the author, the 2018-2019 bitcoin bear market lasted 365 days, and the current downturn is now over 380 days. The Redditor u/partymsl also noted that its “highly unlikely” crypto prices have hit the bottom. Moreover, with 380 days under the belt, the author highlights that the current crypto bear market is getting awfully close to eclipsing bitcoin’s 2013-2015 bear run.
“We are not far off from becoming the biggest crypto bear market ever, the 2013-2015 bear market took 415 days, which would put us at the beginning of January which is still likely to be a bear market,” u/partymsl explained on Saturday. The Redditor’s post was popular on r/cryptocurrency with 89% upvotes and 514 of them at the time of writing. The author’s two cents also received several comments from fellow Redditors who also discussed the chart u/partymsl shared with the post.
“Surviving a bear is a rite of passage. Turns rookies into veterans,” one individual said. “40 thousand people used to post here, now it’s a ghost town,” another person replied referring to r/cryptocurrency’s decline in posts since the bull run. “Quitters never win,” another Redditor snarked. The post’s author reminded crypto bear market survivors that they should be pleased with their determination and making it this far.
“You may soon call yourself the cruelest and cruelest man alive [longest] Crypto bear market in history and it hasn’t been easy,” concluded Redditor u/partyMSL. “Millions of people abandoned the markets and we really are the last ones standing. For coming this far and possibly even further, you all deserve a pat on your back. Brilliant.”
