2022 bear market has been the worst on record — Glassnode

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2022 bear market has been the worst on record — Glassnode
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Congratulations, hodlers - you are in the worst bear market in the history of Bitcoin. Glassnode has shown several key indicators proving that 2022 will go down as the worst to date for Bitcoin traders, most of whom are now underwater.

Several factors have contributed to making the current crypto bear market the worst ever recorded as most Bitcoin traders are underwater and continue to sell at a loss, according to Glassnode.outlines

“For the first time in history, the 2021-22 cycle has recorded a lower MM value than the previous cycle’s low .” “Spot prices are currently trading at an 11.3% discount to the realized price, signifying that the average market participant is now underwater on their position.”

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