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The bear market will end on this date!

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Billy Markus, co-founder of the Dogecoin project, talked about the bear market. The founder of the DOGE explained when the bear season will end and why it will continue. Let’s examine together.

Dogecoin founder: “The bear market will last until this date”

Dogecoin founder Billy Markus talked about the bear market in the cryptocurrency market. The famous founder of DOGE took to Twitter, under the name of Shibetoshi Nakamato, to express his thoughts. The tweet, which was jokingly shared, included Markus’ prediction on the bear market. As a result, the developer of Dogecoin said that the cryptocurrency market will eventually turn bullish. However, he added that this could take some time. The founder of DOGE commented that the end of the bear market “is not soon”. He then continued to share him and gave him a clear date. According to Billy Markus, the bear market will continue for an average of four years. Here’s what Markus shared:

“Everything will work out sooner or later in the cryptocurrency market. But that won’t happen soon, maybe in 4 years … “

Next, Dogecoin’s founder was asked if his current cryptocurrency sales would be swift and aggressive. The question also included whether the bear market would quickly end with a strong rebound. However, Markus took a pessimistic position on this issue. Indeed, the founder of DOGE was of the opinion that the dire state of the global economy would affect the cryptocurrency markets more than expected.

bear market in cryptocurrencies

The previous bear market also lasted 4 years.

cryptocurrency.com As we reported, the previous crypto winter had continued for 4 years. The previous bear market started in January 2018. For exactly 4 years, the cryptocurrency market has been trading at very low prices. However, like every winter, the 2018 crypto winter has come to an end. Bitcoin traded at $ 63,500, making the new ATH in April 2021. Then, in just 8 months, it broke its all-time high again. The leading cryptocurrency hit a new high in November 2021, hitting $ 69,000. The rally of the BTC cryptocurrency king was followed by Dogecoin and other altcoin projects. In fact, very few cryptocurrencies did not participate in the bullish rally in November 2021.

But with 2022, things have changed. The rise in global inflation rates due to the Russia-Ukraine war had a negative impact on markets. Like the commodity and commodity markets, there have been dips in the cryptocurrency market. Alongside the macro factors, the collapse of Earth has brought down the prices of cryptocurrencies. However, it has brought out a great distrust of digital assets. Now, Bitcoin is facing another decline. It is also trading at $ 22,326 at the time of writing. Dogecoin, on the other hand, did an ATH last May thanks to Elon Musk’s debut on US television. Now DOGE is switching hands around 92% lower than its all-time high of $ 0.7376. The main altcoin Ethereum, on the other hand, is priced at $ 1,190.

Dogecoin (DOGE)

Skybridge Capital continues its lower purchases

Anthony Scaramucci, founder of the SkyBridge Capital wealth management fund, appeared on CNBC’s program Monday. The billionaire said that despite current low prices, he has positive feelings about the cryptocurrency market. He also announced that his wealth management fund will buy more Bitcoin and Ethereum. The famous investor cited BTC as over 50% of the cryptocurrency market. He also claimed that “there is a flight to quality (in Bitcoin) here”. In his speech, Scaramucci advised investors to “keep calm and not panic”.

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