We are now officially in the longest cryptocurrency bear market ever seen. After hitting an all-time high near $20, in mid-December , The the value of bitcoin (BTC), the flagship cryptocurrency, has been dropping throughout days and counting. The cryptocurrency ecosystem has so far lost about $ billion from its peak. Bear Market 1 (January 11, - July 11, ): Hack Era. Duration: Days. Peak Price: US$ Bear Market Low: US$ Decline %. The first major bear market of Bitcoin was in That year was marked by a series of hacks and other negative events that contributed to the uncertainty around Bitcoin. On January 11th, the price of Bitcoin peaked in this bear market cycle. Feb 01, · Welcome to the longest Bitcoin bear market in history. Take that, to ! Story by David Canellis. Shares. You are in the most intense.
Longest bear market bitcoinRussians Bought $ Billion in Bitcoin, Says Kremlin Economist - 24crypto.de
This Analyst Thinks Yes More analysts than ever are encouraging young people to take advantage of the current market dip and begin investing in Bitcoin for retirement. The hope of a new decentralized global currency with limited supply to eliminate financial corruption is lost. The Mt. The bear market lasted for 18 weeks before the price started to consolidate to reach a new high in November Bitcoin, after the Mt.
Gox incident had caught the attention of around the world. The market suffered blows from regulatory changes and mining difficulties. Many Bitcoin supporters creators realized the potential of blockchain and its application in almost all virtual applications. The bear market led to the development of platforms like Ethereum and Dash Coin.
Ethereum paved the way for the next price hype. There were numerous blockchain projects in the market, and it was ripe for manipulation and hysteria. This crypto winter bear market is also affected by regulatory news and mining difficulties.
However, the scalability issue was the most pressing problem at the moment. Moreover, the number of people and firms involved with cryptocurrencies have evidently increased exponentially. The scale of the rise in price has been higher than before. With Bitcoin facing regulatory hurdles, scalability issues and immense competition especially from altcoins, Stablecoins and or a centralized DLT system, the path ahead is still unclear.
Conviction from HODLers and progress to make it secure and safe is the only way forward. All Rights Reserved. Search for:. Price Analysis. ICO Review. Submit ICO Review. Editor's Pick.