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Adamant Capital Report: The crypto bear market is getting ready to end

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According to a recent report from Adamant Capital, the cryptocurrency bear market is getting ready to end. The space is entering what is called its accumulation phase, the final state before recovery.

Optimism at its finest

As reported by Cointelegraph, this phase should see Bitcoin’s (BTC) price anywhere from $3,000 to $6,500. From there, the bear market will take over, and prices should soar. Interestingly, the report claims that bitcoin whales are in a state of hoarding for now. They’ll continue to buy up the asset in preparation for the bullish run.

Moreover, the report shows that as markets change, assets move to the hands of industry enthusiasts. Otherwise known as the whales, who are happy to keep buying as the price dips up and down:

“These value investors are not in a rush and are happy to accumulate by buying the dips over quite a long time period. On the other hand, the investors who got caught up in the hype of the preceding bull market and who didn’t anticipate how long and brutal this bear market could become, they capitulate by selling into the price rallies”

Accumulation changes

As the accumulation phase continues, the “weak hands,” or the ones who want to sell for a quick profit, eventually run out of assets to sell. At that point, the bottom of the asset value begins to rise, and the general public is happy to start buying again.

The report also brings up the fact that nearly anyone can become a Bitcoin node. This technology remains as something that’s easily accessible, and that anyone can join. Also, since the implementation of the Lightning Network, there have been “monthly growth rates of 45% or higher.”

Things are looking up for the cryptocurrency market, but we had expected this in the long run. Of course, now it’s time for the mainstream to come in and really get the asset going. Cryptocurrency exchanges are the best way to get started.

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