Bitcoin may be leaving its mildest bear market, Kraken co-CEO says

Bitcoin may already be emerging from its mildest bear market, with its recovery above $80,000 and broader adoption of crypto technology pointing to a changing market. A further pullback remains possible, according to that assessment. In a Bitcoin Magazine interview on November 8, Kraken co-CEO Dave Ripley said Bitcoin's four-year cycle would place it in the middle of a bear market, yet market conditions felt different. He said he believed the downturn had already occurred and Bitcoin was beginning to emerge from it. Ripley pointed to Bitcoin's recent move back above $80,000 and developments across the industry. While acknowledging the possibility of another retracement, he described the downturn, under his interpretation, as the mildest in Bitcoin's history. Financial institutions have also changed their approach to the technology, Ripley said.

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