Bitcoin is nowhere near the bottom of the long-term bear market. A major bear market is unimaginable. First of all, Bitcoin is currently at 60,000. It’s impossible for Bitcoin to drop directly to 40,000 in one go. Currently, 60,000 is not the bottom of the long-term bear market. If in the next few days it crashes to around 50,000~48,000, then this level would be the lowest point of the long-term cycle.