Bitcoin, the leading cryptocurrency, fell to the $82,000 level as selling pressure intensified in the market. While this raises questions about whether further declines may occur, Chris Kuiper, vice president of research at Fidelity Digital Assets, stated that the bear market may not be over yet.
The Bear Market May Not Be Over Yet!
Chris Kuiper from Fidelity stated that it is not clear whether the rise since August marks the beginning of a new uptrend.
At this point, Kuiper stated that this rise could be a counter-trend recovery within the ongoing bear market, and that price increases do not guarantee the end of the bear market, saying, “The bear market may not be over yet.”
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Kuiper based his analysis on Bitcoin’s four-year cycle. Noting that Bitcoin has historically formed bull market peaks and bear market troughs at approximately four-year intervals, the analyst stated that the last significant trough was seen in November 2022, raising the expectation that the current cycle could also bottom out around November 2026.
However, Kuiper emphasized that the four-year cycle never repeats with complete precision, suggesting that Bitcoin could fall again, potentially forming a new low in November or later months.
Bitcoin Warning from Chinese Founder: Below $79,000 is on the Agenda!
Jack Yi, the founder of LD Capital, who made headlines due to his losses in Ethereum, stated that the correction in Bitcoin may not be over yet.
Yi noted that following Bitcoin’s drop below $82,000, and considering the speed of the decline over the past two days, the downward movement could continue, increasing the likelihood of the price falling below $79,000.
According to Yi, if the $79,000 level is also lost, price movements around $75,000 will be closely watched in the market. These levels are key points to monitor during a potential correction.
Yi concluded that the current downward movement in Bitcoin is not a definitive sign that the overall uptrend has ended, but rather a normal correction within a bull market.
*This is not investment advice.
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