Crypto Veteran Urges Calm Amid Bitcoin Bear Market

Key Notes

• The Kobeissi Letter reassured investors that the Bitcoin bear market will pass.
• John Deaton agreed, pointing out several instances in which he suffered a bear BTC market.
• Bitcoin is down below $90k for the first time in months.

Pro-XRP lawyer John Deaton made a post on X, pointing out how he has experienced several bear markets over the years. He pointed out that there was nothing fun about experiencing bear markets. All the same, the legal practitioner asserted that such situations “will pass.”

Bitcoin Bear Market Will Pass, Say Veterans

Deaton’s statements were in response to an earlier X post from the Kobeissi Letter that made the same claim.

On November 18, leading industry commentary platform Kobeissi Letter took to X to reassure investors who have experienced

BTC $91 334

24h volatility: 4.5%

Market cap: $1.82 T

Vol. 24h: $119.84 B

numerous bear markets.

https://twitter.com/KobeissiLetter/status/1990628320665330128

It pointed out that the flagship cryptocurrency has experienced roughly 19 major declines between 2017 and 2025. About 10 of these declines were around 25%, 6 were around 50%, and 3 were around 75% or more.

On the flip side, these declines, no matter the magnitude, were immediately followed by new record highs. Based on this trend, Kobeissi Letter stated: “Disruption is not easy, but it pays when you can sound out the noise.”

The platform described the current sentiment as a routine crypto bear market that is already nearing its end.

In a follow-up post, John Deaton noted that these bear markets are not fun to experience, but they will pass. He cited 2016 as the first time he purchased Bitcoin, recalling that he rode the holding to $19,000 in December 2017. At this point, the pro-crypto lawyer did not sell his stash. Instead, he just waited.

However, he later regretted his inaction, feeling he would have sold and bought the coin back at a lower price. Deaton blamed this experience on not being “smart enough to time the market,” which caused him to eventually fail.

Bitcoin Price Today

CoinMarketCap data shows that Bitcoin’s price has dropped 4.6% over the last 24 hours. At press time, the flagship cryptocurrency traded at $91,149.70. Over the last 7 days, the coin has dropped by 13.38%, and over the last 30 days, by 14.44%.

In terms of its 24-hour trading volume, Bitcoin still looks quite promising. Precisely, this metric is 47.98% high and sitting at $117.24 billion, with its market capitalization reaching $1.8 trillion. It is worth noting that the market situation has not prevented Strategy from making additional purchases.

The business intelligence and software firm MicroStrategy recently acquired 8,178 BTC for roughly $835.6 million. Also, each coin came in at an average price of about $102,171 per Bitcoin.

Similarly, the author of “Rich Dad Poor Dad,” Robert Kiyosaki, is backing BTC against all odds.

nextDisclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.