Bitcoin price has struggled to sustainably rise over the past few weeks, with prices recently falling near $74,000 last week. But the top cryptocurrency appears to have more serious problems than failed price recovery attempts. According to cryptocurrency market experts, the price of Bitcoin is at a stage reminiscent of the 2022 downturn.
Will BTC witness a repeat in 2022?
In a March 8 post on the A cryptocurrency expert has hypothesized that the world’s largest cryptocurrency may have to endure a bearish period linked to the collapse of the Terra (LUNA) ecosystem in 2022.
The basis for this assessment is the steady decline of the Moving Average Convergence Divergence (MACD) indicator on the two-week price chart of BTC. MACD is a key momentum indicator used in technical analysis to identify trend direction, momentum changes, and potential entry and exit positions.
Typically, the moving average convergence divergence indicator has two lines, the MACD line (green) and the signal line (red), and a histogram that reflects the distance between the two aforementioned lines. The histogram, a key momentum indicator, is currently signaling strong bearish momentum.
This observation is because the histogram bars are expanding, signaling rising momentum in the current direction (a downtrend because the bars are below the neutral or zero line). According to Severino, the MACD indicator is expanding to levels not seen since 2022, when the collapse of the Terra (LUNA) ecosystem sent bearish shockwaves across the entire cryptocurrency market.
2W Bitcoin LMACD momentum is roughly at the same point it was before the Luna collapse in 2022.
Something unpleasant might come
How are you managing your risks? And do you know how? pic.twitter.com/SFzsYJxiZc
— Tony Severino, CMT (@TonySeverinoCMT) March 8, 2026
Source: @TonySeverinoCMT on X“Something bad is likely coming,” a cryptocurrency market analyst said, suggesting another cryptocurrency winter could be just around the corner. After Terra collapsed in May, the top cryptocurrency would have fallen from over $50,000 to around $30,000 (a decline of about 40%) by July 2022.
However, it is important to note that the market may have already priced in the price shown by the current MACD indicator, which is often considered a lagging indicator. Moreover, Bitcoin has already lost almost 30% of its value as of 2026.
Bitcoin price at a glance
As of this writing, the BTC price is around $67,520, with no significant movement over the past 24 hours.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Featured image of DALL-E, TradingView chart
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