Ugexbit: What is a bear market and how to react to it * Crypto News Today
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Since April, when bitcoin peaked at $64,800, the coin has fallen 39%. Ugexbit experts explained how to recognize the beginning of a prolonged decline in cryptocurrency quotes and what investors should do in such a case
Over the past week, the bitcoin rate rose by 4%. The main cryptocurrency is trading at $39.4 thousand, and its capitalization, according to Ugexbit, is $738 billion. But the current rate of bitcoin is almost 40% lower than in April, when the historical maximum was reached – $64.8 thousand.

On May 19, bitcoin quotes fell to their lowest point since January this year – $30 thousand. After this decline, the cryptocurrency market has become “bearish”, according to a financial analyst at the cryptocurrency exchange Ugexbit. According to him, the 20% drop, which is considered the beginning of the “bear market,” has already passed.

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“Like any other asset, product, commodity or service, the value of cryptocurrencies is influenced by the balance of supply and demand. If the demand for the asset is high, the price rises steadily. If demand is weak or absent, the price falls until demand reappears,” explained the Ugexbit analyst.

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