- The candle representing the last annual quarter on the BTC chart is red.
- Crypto has reached all-time lows in this bear market.
- Indicators are showing how severe the bear market is.
The year 2022 has just come to a conclusion, and as a result, the candle representing the last annual quarter on the BTC chart has, unsurprisingly, finished in the red. One poster on Reddit said that this should have been quite evident after the market experienced a significant amount of crabbing at the beginning of the fourth quarter and then the FTX-Implosion occurred.
This caused crypto to reach fresh all-time lows. He is of the opinion that Bitcoin would have probably closed marginally in the green if it hadn’t been for the subsequent rally in stock markets.
However, this did not take place, and instead, we had even greater financial losses in the fourth quarter. In addition, this is the first time in the whole history of Bitcoin that we have seen a loss for four consecutive quarters. Before then, throughout each of the preceding bear markets, the sector merely had three consecutive negative quarters.
This chart also does a very good job of visually expressing the unusual nature of this bear market in the context of the history of cryptocurrencies. In addition, it is essential to be aware that additional indications are demonstrating how severe this bear market is, particularly in contrast to bear markets that have occurred in the past.
Despite this, the fact that we are now trading at substantially higher lows than we were during past bear markets suggests that the current bear market may not be close to its conclusion. At the very least, this offers a glimmer of hope that all of that suffering could end sooner rather than later.
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