Those who have ventured into the crypto market know how volatile the market can be. Therefore, it requires a detailed and thorough study before one decides upon forming any sort of association with the market. It is also important to take a look at the trend of the previous year, such as a detailed study of the bear market in the previous years.
This would help people understand how things were or how things worked when they faced the crypto market crash in 2008, like the one being faced now in 2022. It would help one analyze the difference as well as the similarities, and in the process understand or predict what ll there is to come or what all can be expected to come.
The Value of Bitcoin during the bear market
It has been recorded that in the year 2017, the Bitcoin value touched its all-time peak with a value of 19.1k dollars. However, in the years following it, the Bitcoin value showed a major downturn and fell as low as 3.2k dollars. It was estimated to be a downturn or drawdown of almost as much as 83%. It was even considered to be one of the lowest that the Bitcoin market has ever faced.
However, in the current year, the Bitcoin value has not fallen as low as it had fallen in the year 2018. But there has been a severe drawdown which has become a matter of major concern. This year, it has been called almost as low as 73% from what it was in the year 2021. If it was to be compared with the fall that was experienced in the year 2017, it could mean that it would have to fall 11.4k low to be equal to that experienced in the year 2018.
However, it cannot yet be said anything definitively, as if in the coming months, the value of Bitcoin falls any less, then it would surely match what has faced in the 2018-19 market.

Learn more about the realized price of the Bitcoin
The data that has been collected from various trusted sources indicate that the realized price of the Bin is 23,340 dollars currently. This is said to be the average price of all sorts of Bitcoin that I’m demanding right now. It is a rare phenomenon when the value of Bitcoin falls lower than the value given here. It generally occurs during the end of the near market season.
However, with the current situation of Bitcoin and the value at which it is trading right now, it can be said that it might soon hit its lowest. It would not take long before it reaches its bottom.
As per the MVRV Z-score, which can be referred to as the difference between the market value and the BTC realized value, Bitcoins value has gone tremendously low. However, in the years 2018 and 2020, these scores had reached their lowest levels and this year it is headed towards the same scenario but might not reach so low.

A closer look at the Bitcoin value
However, a closer look into the trends from the year 2017 to 2021 ut has observed that there has been a significant rise in active addresses. The Bitcoin market cap has also noticeably risen by over 300%.
It has also been reported that the rise in active addresses is much less than that of the rise in Bitcoin addresses. This steady increase in both factors has led to the wide acceptance of general networking.
Conclusion
It is not always an easy task to predict or make assumptions about how the bear market is going to function at a particular time. It has become even more uncertain given the current times and situation.