Crypto Analyst Benjamin Cowen Shares BTC Chart That Might Hint at End of Bear Market

Dec 09,2022
Crypto Analyst Benjamin Cowen Shares BTC Chart That Might Hint at End of Bear Market
  • How is the metric system related to work?
  • Not the worst

Benjamin Coven, a well-known data encryption investment analyst and founder of Into The Cryptoverse, shared an interesting bitcoin data chart, which is likely to help investors understand that the price of the first cryptocurrency will eventually reverse and the bear market will not.

How is the metric system related to work?

The highest value ROI of bear market cycle time is a useful indicator value, which is suitable for defining the surrender point of the current cycle. According to the ROI of the highest cycle time at the current stage, investment analysts can know the depth of losses suffered by the market at the current stage.

With the operation capacity of cryptocurrency market reduced to the minimum, retailers and investors focus on abandoning the purchase business process, and increasingly reduce the openness of digital currency.

Not the worst

Compared with the previous bear market, the decline in the return on investment of Bitcoin in Athens is not as strong as it seems. At this time, Bitcoin did not achieve the return on investment in the first three cycles. However, the return on investment dropped to 0.3, indicating that the market has already experienced a serious loss, and now it is very likely to enter the acceleration phase.

Unfortunately, it is impossible to further decline, because the losses have been realized in the market and have not reached the value you can see in the bear market in 2018. Bitcoin, Ether and other assets are likely to still be testing the local new bottom, especially if the Federal Reserve meeting is not aware of his views.

Unfortunately, on chain and market indicators do not show signs of an immediate recovery. The trading volume, interest on uncompleted closing positions and other indicators have moved towards the value in use before the collapse of FTX, but they have not played a special role in the moderate recovery rebound - at least not yet.