בער מאַרק איז נאָך נישט איבער, קריפּטאָ ינוועסטער לאַרק דייוויס דזשאָינס פעטרוס בראַנדט צו רופן פֿאַר וואָרענען ווי קריפּטאָקוררענסי ראַלי

Lark Davis says we are still in a bear market.

אין אַ טוויט on Monday, popular crypto investor Lark Davis warns that we are still in a bear market despite the latest crypto rally.

“Just remember, macro conditions have not changed dramatically. This is still a bear market until proven otherwise, Be Careful…” Davis tweeted as he admonished crypto investors to exercise caution.

Just remember, macro conditions have not changed dramatically. This is still a bear market until proven otherwise.

גיב אכטונג.
האָבן שפּאַס.
Be open to opportunities!#קריפּטאָ

- לאַרק דייוויס (@TheCryptoLark) יולי קסנומקס, קסנומקס

It is worth noting that Davis is not the only market analyst calling for caution in the markets. For example, in a טוויט on Sunday, seasoned market analyst Peter Brandt warned that the latest Ethereum price pump lacked the necessary volume to sustain it, even as a user commented that it is merely a short squeeze.

"די (ETH) ופּטורן איז געווען אַ גאָר ליכט באַנד. הייסט די שטויס איז נישט באזירט אויף אַגרעסיוו בייינג פון שטאַרק הענט און איז, דעריבער, פּראָבלעמאַטיש.

The upturn came on extremely light volume. I.E. the thrust was not based on aggressive buying from strong hands and is, therefore, questionable

- Peter Brandt (@PeterLBrandt) יולי קסנומקס, קסנומקס

The crypto markets have endured a difficult eight months since November 2021. Notably, it has faced pressure from rising inflation concerns, and the internal structure collapses from the likes of the Terra ecosystem. Consequently, several cryptocurrencies have dropped almost 90% from their highs.

ווי פריער געמאלדן by די קריפּטאָ באַסיק, price action trader Justin Bennett noted last Tuesday that this bear market differs from previous crypto bear cycles. According to Bennett, it is the first time Bitcoin is facing such macroeconomic conditions. As a result, Bennett believes the leading crypto asset could still plummet to $8,500.

Meanwhile, CryptoQuant, in a בלאָג פּאָסטן on Sunday, reveals that miners have started to capitulate. CryptoQuant analyst Edris wrote that miners in the last few weeks had distributed more Bitcoin than ever since January 2021, warning that prices could drop further. 

At the time of writing, Bitcoin has again pushed past the $22k price point. It is up 3.57% in the last 24 hours and 8.81% in the last seven days. Meanwhile, Ethereum remains above the $1400 price point, up 7.40% in the last 24 hours and 27.98% in the last seven days.

- אַדווערטייזמאַנט -