4 years ago we had the previous bear market 2018 bottom happening. Here we are now, in an even bigger bear market.

If we turn the clock back exactly 4 years from now we would be on the 16th December of 2018 and Bitcoin would have just made its bear market bottom after the 2017 top of $20k. Right now we probably would have never thought that we just bottomed as BTC fell from long-lasting $6k to just above $3k in little over a month, a 50% crash to form the bottom.

​

Chart from therationalroot on Twitter

As we can see on this chart, this bear market has now officially taken longer to form a bottom than in 2018, where it happened in just about a year. There are also a ton of other metrics suggesting that this bear market has been proportionally bigger and longer than the bear market in 2018.

This obviously shows in what kind of an extraordinary situation BTC is, it can very well be argued that we are in a way worse spot than BTC was in 2018. We had tens of big entities in crypto fail this year, under which were the billion dollar scams of LUNA and FTX.

This, right now, is truly an exceptional bear market with the crypto playfield being cleansed of billion-dollar scams and thus a survivor of this will be exceptional too. Hang in there.