Philip Swift, creator of analytical metric LookIntoBitcoin and co-founder of trading suite Decentrader, said in an interview with Cointelegraph that the Bitcoin bear market will last for a maximum of 2-3 months.
He explained that I believe we are now at the point of greatest opportunity for Bitcoin. There are a number of key indicators on LookIntoBitcoin that suggest we are at a major cycle low.
We see a peak in the percentage of long-term holders, which usually happens in the depths of a bear market, because these long-term holders don’t want to profit until the price rises.
This limits the available supply in the market, which can lead to higher prices when demand eventually picks up.