Does the crypto Bear market start?

[Kirubel]

As we can see the price of most crypto coins is dropping significantly, and the price of bitcoin dropped to $40k in the last few hours and it is keep decreasing, do you think the Bear market started?

 

[riberet19]

The bear market started a long time ago, and I don't think we have completely come out of it, although it is true that we have been quite positive for 1 year, the macroeconomic, socioeconomic outlook, and the real outlook are not good in the medium term, so I think this is just a correction of all the excesses that we have had during the last few months where the asset has risen from 25k to 40k

 

[Suba]

Even though there is no specific benchmark that we can use as a measuring tool to determine a bear market, we can refer to Bitcoin as a crypto leader. If the price of Bitcoin has fallen more than 20% from the highest price then we can call it a bear market. So Bitcoin ATH $68k then the bear market benchmark is $54k.

 

[Kirubel]

Even though there is no specific benchmark that we can use as a measuring tool to determine a bear market, we can refer to Bitcoin as a crypto leader. If the price of Bitcoin has fallen more than 20% from the highest price then we can call it a bear market. So Bitcoin ATH $68k then the bear market benchmark is $54k.

Good explanation, now i get it, this week the price of bitcoin has bit fallen and i thought it was the bear market.

 

[Suba]

Good explanation, now i get it, this week the price of bitcoin has bit fallen and i thought it was the bear market.

True, until now the crypto market is still in a bear market, because the BTC price has not yet exceeded $54K, even though the Fear and Greed index also shows a figure above 72.