After Two Years of Bear Market, Bitcoin And Ethereum May Be Ready To Rebound

Story by: Tony Spilotro

It was December 17, 2017, when Bitcoin hit its all-time high, and nearly a month later on January 12, 2018, Ethereum peaked at $1,400 per crypto token.

After that, it’s been two full years of a bloodbath, with sheer carnage across the entire crypto market. But just as we close in on the second full anniversary of when the bear market first began, the crypto market appears to finally be ready to rebound and go on an uptrend once again.

Crypto Market Enters The Second Year of Bear Market

Bitcoin’s meteoric rise and Ethereum’s ICO-fueled rally helped put cryptocurrencies and blockchain technology on the radar of the entire world. The once relatively unheard of technologies soon were being discussed as industry disrupters and a possible replacement for the dollar.

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Early investors became filthy rich overnight, and the buzz caused retail investors to FOMO into these emerging crypto assets hoping to fuel their dreams of Lamborghinis and mansions.

And like any over-inflated bubble, the crypto market popped, and after that, a two-year-long bear market has resulted. Bitcoin had a short-lived bear market rally offering investors in the first-ever cryptocurrency a sigh of relief, however, a new all-time high couldn’t be reached, and it later fell back into a downtrend it is still struggling to break out of.

Meanwhile, the entire altcoin market has continued to bleed and bleed, with most calling it an outright “apocalypse” for the asset class.

Ethereum Bottom May Be In, Bitcoin Is Ready To Rise Once Again

However, there are long-term signs beginning to signal that the tides are starting to turn for the world of crypto, and soon the bear market will finally be over, and the asset class very well could rebound into another powerful uptrend over the course of the next few years.

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According to one industry analyst who focuses on long-term chart analysis, Ethereum’s MACD histogram on longer-timeframes has just started to show positive growth after reaching a “bottom.”