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The investors who believed that the crypto winter was over due to the recent surge in BTC in the last month are once again shaken by the sudden downturns in the current bear market. These bear markets, which can be quite ruthless, have historically made it challenging for investors to maintain a positive outlook, given price drops exceeding 50% and prolonged periods of consecutive declines. However, investors tend to forget the difficulty and duration of bear markets with each bullish market excitement that eventually comes.

Examining past examples to understand the end time of the current bear market, which the long-term investor inevitably believes will come one day, is crucial. Considering the anticipated time frame of 300-400 days shaped by past patterns, we can tentatively predict the date when faces might smile in the crypto market as 2024.

Although there seems to be some time ahead for the expected days, recent developments in the BTC chart have once again instilled hope in investors. Breaking the long-unconquered $38,000 resistance on November 24, BTC was interpreted by some analysts as a precursor to the arrival of bulls in terms of the expected upward trend, despite the daily downward momentum.

A detail observed in the BTC chart in the two consecutive weeks following the anticipated bull movement suggests that the arrival of bulls may not be as smooth and easy as anticipated. While BTC broke the $38,000 resistance but couldn't sustain the expected momentum, starting this Tuesday with another decline, its movements indicate that high price levels are still not attractive to investors. The recurring Doji candlestick formation highlighted by technical analysts signifies uncertainty about the next move between bears and bulls.

Nevertheless, crypto investors remain optimistic. The 1% decline experienced today following last Tuesday did not dampen their spirits. Positive whispers about U.S. regulators soon approving the first spot Bitcoin exchange-traded fund (ETF) continue to motivate investors as an indicator of positive momentum in the crypto space. Despite facing resistance around $37,980 since the rise that began in October, Bitcoin's ongoing ascent has not prompted investors to reassess their positions.

Analysts also suggest that the upward trend indicated by investors is much closer compared to the years we have left behind. While counting down to the crypto market's return to its former glory, it's essential to acknowledge everyone's focus on significant regulatory developments that will mark important milestones in crypto adoption.

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