PANews reported on January 2nd that, according to Cointelegraph, Julio Moreno, Head of Research at CryptoQuant, stated on the Milk Road program that, based on indicators such as the one-year moving average, Bitcoin may have already entered a bear market two months ago. Moreno predicts that, based on Bitcoin's actual price and historical performance, the bottom of the bear market over the next year could be between $56,000 and $60,000.