Bitcoin: 2025 Seen as a "Bear Market" — Is a New Decade of Growth on the Horizon?
Although Bitcoin hit a new all-time high in 2025, Samson Mow — founder of Jan3 — says this was anything but a euphoric year. In fact, he calls it a bear market year. Mow believes that after this grueling correction phase, Bitcoin may be gearing up to enter a multi-year bull cycle that could last through 2035. His view has found agreement among several other analysts, who argue that those who held on through 2025 are the ones who "survived the bear market."
Although Bitcoin hit a new all-time high in 2025, Samson Mow — founder of Jan3 — says this was anything but a euphoric year. In fact, he calls it a bear market year. Mow believes that after this grueling correction phase, Bitcoin may be gearing up to enter a decade-long bull cycle, potentially running all the way to 2035.
His view has found agreement among 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 consensus. Many experts believe the cycle top has already formed, and that 2026 could bring another leg down, with price targets pointing to a pullback toward $60,000 – $65,000.
As of now, Bitcoin is still trading below its year-open price, down nearly 9% from January 1st. Market sentiment in December also slipped into "fear" territory, with the Fear & Greed Index spending multiple consecutive days in the extreme fear zone.
Even so, there are reasons for optimism. Some industry leaders argue that Bitcoin's fundamentals remain strong, despite the weakness in price and investor sentiment. In their view, this may simply be a consolidation phase before the market kicks off a much larger move upward.
With the picture split between concern and expectation, the biggest question right now is:
👉 Will 2026 be an accumulation period — or the start of a multi-year mega bull run?
The market is waiting for an answer.