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Bitcoin Price Could Stay in Bear Market Until September or October, Says Grayscale
Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
Bitcoin price could remain in a bear market until September or October if the traditional four-year cycle continues, according to Grayscale. The firm said previous Bitcoin bear markets typically bottomed about one year after the cycle peak, with average drawdowns of around 80%. However, Grayscale believes Bitcoin price is now influenced more by macroeconomic conditions than historical cycles. The firm said Bitcoin may have already reached its bottom if the U.S. economy remains resilient and the Federal Reserve avoids additional interest rate hikes.
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