Bitcoin: 2025 Labeled a "Bear Market" — Is a New Decade of Growth on the Way?
Even though Bitcoin hit a new all-time high in 2025, Samson Mow — founder of Jan3 — says this was no euphoric year. In his view, it was actually… a bear market year. Mow argues that after this grueling correction phase, Bitcoin may be gearing up to enter a multi-year bull cycle lasting all the way to 2035. His take has drawn agreement from several other analysts, who argue that those who held on through 2025 are the ones who "survived the bear market." T
Even though Bitcoin hit a new all-time high in 2025, Samson Mow — founder of Jan3 — says this was no euphoric year. In his view, it was actually… a bear market year. Mow argues that after this grueling correction phase, Bitcoin may be gearing up to enter a multi-year bull cycle lasting an entire decade, potentially running all the way to 2035.
His take has drawn agreement from several other analysts, who argue that those who held on through 2025 are the ones who "survived the bear market." That said, the market is far from unanimous. Many experts believe the cycle top has already formed, and that 2026 could see another leg down, with price targets as low as $60,000 – $65,000.
As of now, Bitcoin is still trading below its year-open price, down nearly 9% from January 1. Market sentiment in December also turned fearful, with the Fear & Greed Index sitting in the extreme fear zone for several consecutive days.
Still, optimistic perspectives remain. Some industry leaders argue that Bitcoin's fundamentals are still strong, despite the weakness in price and investor sentiment. In their view, this may simply be a correction phase before the market enters a larger growth cycle.
With the picture split between concern and expectation, the biggest question right now is:
👉 Will 2026 be an accumulation period — or the opening act of a multi-year bull run?
The market is waiting for an answer.