The cryptocurrency Bitcoin has officially entered the longest period of declining prices for its entire 10-year history.
To February 2, 2019 bearish trend Bitcoin has lasted for 411-th day in a row.
17 December 2017, the Bitcoin exchange rate reached a record high of 19,764 thousand dollars, according to CoinDesk, and has since been demonstrated for a long period of decline.
This band reduction in the price of Bitcoin exceeds the duration of the bear market 2013-2015, which lasted 410 days from the highest to the lowest price.
But the depth of this fall price reduction still does not exceed the fall of 2011 that lasted just 163 days. Then price high 31,50 dollar kriptonite fell to USD 2.01 – more than 93%.
This is a more significant drop than a bear market 2013-2015, when prices fell by 86%. The current bearish trend shows 84% maximum drop and 82% reduction at the current price of 3400 dollars (at 17:30 on 3 February a Bitcoin was worth 3474 dollar, and the capitalization was $ 60,85 billion dollars).
Market participants believe that the “bottom” is near, and growth will begin after the launch of ETF-funds. In addition, the new bull market may make the reduction unit, which is mined the miners. This reduction can occur at the end of may 2020, so the market can begin to grow at least a quarter prior to this date.
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