This is the weirdest bear market to date. It seems like most people were prepared for it, even though the death spirals and Chapter 11 bankruptcies that started it came out of nowhere. In any case, every coin is in the red. The market should be in a state of fear, uncertainty, and doubt. That is certainly not the case for the two leading cryptocurrencies. The circumstances might be different for each one, but both markets show signs of unwavering conviction. Related Reading: 62% Of Addresses Keep Their Bitcoin Holdings For Over A Year In Bear Long-time holders of bitcoin and ethereum seem to be laughing in the bear market ’s face. In the latest edition of The Wolf Den, the author uses Glassnode and Intotheblock’s data to show us how this is true. The Bear Market Vs. Bitcoin “On-chain evidence from Glassnode suggests that there has been no meaningful reduction in the conviction of long term believers,” the newsletter states. To prove this, The Wolf Den looks at the “Dormancy Metric.” The number that “tracks the average age ..
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