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Bitcoin Bear Market May Continue Until the End of 2022, Will BTC Price Find its Lows? – Coinpedia – Fintech & Cryptocurreny News Media

Bitcoin Bear Market May Continue Until the End of 2022, Will BTC Price Find its Lows? – Coinpedia – Fintech & Cryptocurreny News Media

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The crypto market has shown different price actions since the beginning of 2022 and showed opposite behavior to predictions. Considering the latest price action, Bitcoin (BTC) price marked a much-needed 10% jump over the previous trading day.

While market sentiment is picking up steam, one prominent analyst believes the asset is set to reach its final capitulation stage before the end of 2022.

Benjamin Cowen, the founder of blockchain company cryptovere, argues that the star crypto will fall significantly this year. In a recent interview, Cowen stated that the correction would reflect the historical price movements it experienced after breaking the all-time high.

"Comparing the different bear markets, you know we'll spend a few months sitting about 70% below the all-time high, and then it's like at the end of the year or the beginning of the next year we'll have a final capitulation. ."

FED action responsible for disrupting the Bitcoin Bull market

The analyst believes that raising inflation may be the main reason behind his declining claim. The Fed may continue to tighten its grip on rising inflation, which is entrenched at 20-year highs. Rising interest rates may eventually affect the stock market, which may also affect the crypto space.

On the other hand, the Ethereum merger is also fast approaching, which is expected to change the crypto space. He hopes that confidence in the market can build up if the merger is successful without major technical flaws.

"It's a very important event for the entire crypto space because if it goes as planned and there are no major hiccups, I think it can give a lot of confidence to the asset class as a whole at a time when we really need it. If you think about all the bad things that have happened in crypto- in the field this year.

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