Prominent Investor: This Bitcoin Bear Season May Last For A While

Although the market has begun to recover, albeit ever so slightly, there are some industry leaders that aren’t convinced that Bitcoin is back in bull mode just yet.

“Bitcoin Will Bottom, Then Go Sideways”

Anthony Pompliano, the founder of the crypto/blockchain-centric Morgan Creek Digital Assets, recently appeared on Ran Neuner’s “Crypto Trader” show to express his bearish outlook on this fledgling market.

Pompliano, who goes by “Pomp” in many circles, opened up his segment discussing the fact that the bear market, which began near the start of 2018, may be far from over.

Responding to Neuner’s query regarding the bear market, Pomp stated:

I think if you look across the historical context with these parabolic runs — we’ve seen the drawdown of about 70% or so, we’ve seen a couple in the past that have been worse that have been right into the 80-85%. But I think what ends up happening is when you get a long drawdown that we have just seen, we will hit a bottom at…