Jiang Zhuoer (江卓尔), the founder of the Chinese mining pool BTC.top, stated that this bear market, based on BTC's 4-year cycle, has not yet seen sufficient duration or depth of decline compared to the past. He explained, "While the previous three bear markets all recorded similar durations and declines, this year has not yet reached that range. Looking at past cycles, the maximum decline rates were 86.9%, 84.1%, and 77.6% respectively, and this time a 65.1% decline is expected. Applying this, BTC could fall to $44,016 by the end of October."
