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Bear Market End for Shiba Inu & EverGrow

Shiba Inu is down 27% in price and EverGrow Coin is down 30%, when will the bear market end?

Bank of America strategist suggests October

The S&P 500 returned 27% to investors last year. So far in 2022, the S&P 500 has fallen 15%.

The causes of the current bear market are multiple: rising interest rates, the highest inflation levels in 30 years, geopolitical tensions including the war in Ukraine, and more.

The Bank of America’s chief investment strategist Michael Hartnett told Fortune there could be ‘months’ of decline ahead. Hartnett said:

“In the last 19 bear markets, the average peak to trough decline has been 37% with an average duration of 289 days.

If history were to repeat then today’s bear market ends in October 2022 with the S&P at 3000.”

Will the crypto market correlate with the stock market?

ARK Invest founder Cathie Wood said that despite the recent correlation between crypto and traditional assets, the crypto bear market will ‘soon be over’.

She said that crypto is a ‘new asset class’ that is expected to see ‘exponential growth’ over the next few months.

This is because blockchain technology, NFTs, the metaverse, and cryptocurrencies, in general, are undergoing a development period much like the ‘tech and telecom bubble’.

Nothing is for certain, but looking at historical price data for Shiba Inu shows the distance between the two all-time high prices last year was about 6 months.

The first Shiba Inu all-time high was a price of $0.0003503, after which prices fell to $0.00000628. Shiba Inu then went to $0.00008 in October and so far prices have not fallen past $0.00001553.

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