“Bitcoin [BTC]‘s bottom is close” has been the order of the day since the king coin traded at a price of $15,800. However, that opinion might not be as valid as many investors might have hoped.

This was because of a recent revelation by a CryptoQuant analyst, MrPapi, who claimed that according to market signals, the bear market might take longer to dissipate. While referring to the last bear market, the analyst said, 

“In previous bear markets it took BTC around 11 months (330 days) to find a floor, once RSI bottomed. We are around 270 days currently. 330 days will land in Jan ’23, but given the macro I would expect a longer bear market than in the past.”

(By Suzuki Shillsalot)