Despite the ongoing crypto market downturn which fuels concern amid many industry observers, an increasing number of developments suggests that a new bull market could be close, according to a recent analysis by crypto asset trading company Cumberland.

"After a very busy month, price action is consolidating. Given the nature of crypto and the tectonic shifts occurring beneath it, we do not expect this paradigm to last,” the firm said in a Twitter thread presenting its forecast for the crypto markets. 

Cumberland believes that exploring this dichotomy is crucial to predicting crypto price action. The company’s analysis suggests that, following the euphoric highs reached in 2021, crypto markets spent a large share of this year "realigning with more sober technology valuations."