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26 July 2021

On the fence: If this is a crypto bear market, how long can it last?

On the fence: If this is a crypto bear market, how long can it last?


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So far, the S2FX model has been one of the most accurate price predictors of Bitcoin over the years.

Igneus Terrenus, head of communications at crypto exchange Bybit, believes that short-term traders were responsible for the sell-off following BTC’s price highs.

Project funding is another significant indicator of market sentiment, and 2021 has been an outstanding year for crypto startups.

In Kiyosaki’s case, he’s also been encouraging his followers to stock up on gold and Bitcoin.

However, lawmakers from other countries have also recently started to take a closer look at crypto.

Institutional analysts have also been making ominous predictions about Bitcoin’s price, with JPMorgan issuing a warning that the near-term setup for BTC continues to look unstable.

“If we analyze the Bitcoin price based on the S2F model, Bitcoin prices have the potential to triple in the short term.

As it has previously been suggested that most of the signals point to this bull market only being at a halfway point, is there enough evidence to reverse that direction

On the other, there are some telling on-chain metrics and indicators of investor sentiment that appear to stack up in favor of a continuing bull market

However, in practice, the regulatory issues continue to spook the market, proving that price models and VC funding aren’t necessarily able to assuage concerns

If there are further major clampdowns, then it may be that the bull market cannot recover after all

The fact that prices have held above $30,000 thus far, despite perhaps the biggest test to mining security in history, is a testament to the bullish forces at play

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cointelegraph.com
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