Bitcoin Witnessing the Longest Bear Market in Crypto History

Bitcoin Witnessing the Longest Bear Market in Crypto History

Bitcoin’s entry into the longest ever bear market in history is one of the most burning issues of today. The price of this top cryptocurrency is showing a declining trend on 411th consecutive day. Earlier, the digital token had suffered a bear market in 2013-2015. That bear market had lasted for 410 consecutive days. Today is the 411th consecutive day of bear market in the history of Bitcoin.

It is noteworthy that Bitcoin had touched an all time high value of $19764 on 17th December 2017. Since then, the value of this top cryptocurrency has been decreasing continuously. Consequently, the ecosystem has lost $700 billion from its peak of $815 billion in January 2018. Here, it is pertinent to mention that the total value of all the cryptocurrencies is around $115 billion.

Bitcoin, cryptocurrency, bear market, crypto exchange

Bear Markets in the History of Bitcoin

There is no denying the fact that Bitcoin is witnessing the longest and sharpest decrease in its value over the past 10 years of its history. The crypto token is now trading around $3450 which shows a huge depreciation of about 82% from its peak value of $19764. During the bear market of 2013-2015, the value of the token decreased 86% from $1100 to $200. As a result of this bear market, the largest crypto exchange of that time Mt Gox went down.

Bitcoin had also faced a bear market in 2011 that lasted for only 163 days. Then, it had shown a decline of about 93% and the value of token went down from $31.50 to $2.01.

One of the most threatening aspects of this bear market is that no one can guess its end. Although other crypto tokens have shown a slight increase in their values, yet Bitcoin is revolving around $3500. The experts are of the view that this continuous decline in the value of Bitcoin is due to proposal of withdrawing Exchange Traded Fund (ETF). Some are saying that Bitcoin is once again approaching its deflationary halving event.

Bitcoin, Cryptocurrency, Bear market

👉 Are you looking for a Forex Robot that offers realistic returns even when the markets are volatile or down? Golden Pickaxe is the BEST Forex robot using low risk and EARNING a whopping 47.93% monthly profit margin. You get a robot offering the best in terms of safety and guaranteed profits no matter the risks. A gold-driven EA robot, the robot was created and developed over ten years. It has the pedigree to offer gold traders a profitable all-year-long profit regardless of market conditions. We have tested the platform, and it has seen remarkable profit margins for the past 15 months. The well-known trader developer (Valeriia), put the robot out there for any trader to confirm its realistic profitability. And the robot was tested and seen to be even better than what we thought was the best, Waka Waka. Golden Pickaxe is now one of the best-proven forex robots that offer profitable outcomes, and all data are third-party verified independently via Myfxbook. The balance volume for Golden Pickaxe is there for anyone to see. And that means you get a transparent Forex robot guaranteeing results. Even when facing drawbacks of 37.47%, the robot balances the profits. With an automated trading robot, you can receive near-perfect signals for trading gold. And that’s what every trader needs when investing in Gold. So what are you waiting for? We have tested the robot and Guarantee it’s a perfect match for you. Start earning realistic profit margins from forex trading with a LOW-RISK thanks to Golden Pickaxe. We have been using it even when the gold market was risky. Thanks to this automated forex robot, you can earn 47.93% ROI or more per month consistently. Complete beginners to Forex can start and immediately start earning a stable and reliable income with it.  What's more? You don’t even have to deposit funds with your broker when using the Golden Pickaxe robot. Just register with a Broker such as IC Markets or Coinexx (for US-based traders); there’s no need to deposit your real funds with them. Instead, use the Golden Pickaxe robot to pass a funded account challenge on FTMO. No worries, it’s very easy to pass once you install the EA. Once you pass the challenge, FTMO funds your account with real live funds depending on the challenge you passed, then you can simply carry on trading with the EA on the live account and request payouts monthly whenever you want to withdraw your profits. All challenges and trading are done automatically by the Golden Pickaxe robot, so you don't have to worry. Or... if you don't like the idea of a trading challenge/evaluation, you can simply buy a cheap funded account with prop firms we recommend like FundYourFx, get instant funding of a real account, then start using the robot to trade, profit and make weekly withdrawals, very easy. If you have any questions or want help with the setup, head over to our live chat and ask for Corey Woods. Corey will help you with any issues, problems, or initial setup along the way. Here’s your chance to start trading Gold and earn with an AUTHENTIC, PROVEN, AND SAFE Forex Robot. Sign up today for a chance to get a reliable side income with GOLDEN PICKAXE. Click the button below to buy the EA, then contact me on live chat if you need any help setting up the whole thing.

Click Here To Buy Now

Effects of this Prolonged Bear Market

Due to this prolonged bear market, many start ups are winding up their operations. Some of the companies have to lay off their employees and incur budget cuts to meet their expenses. One such example is Coinsquare, the Canadian crypto exchange, which has laid off its 40 staff members. These include Robert Mueller, the chief operating officer and Ken Tsang, the chief financial officer.

The Coinsquare head of talent says that many other companies will have to make tough choices like us.

ShapeShift, an instant cryptocurrency exchange, had also announced on 8th January to lay off its 37% staff members. The CEO of the exchange considered this staff reduction in companies very painful. Here, it is pertinent to mention that ShapeShift was growing very fast when cryptocurrencies were booming. It started its operations with a 10 member team and had increased some members to manage business.

It is quite surprising that people are still optimistic about the future of cryptocurrencies in spite of this 411 days bear market. This is why many large companies are planning to launch their own tokens and trading platforms. Fidelity Investment, one of the largest investment companies of America, has launched its own trading platform.

Similarly, Bakkt (the international cryptocurrency exchanges’ venture) is also going to launch this year. This new platform will facilitate cryptocurrency adoption and will also help retail investors.

Bitcoin’s price also seems in recovery mode and has shown bullish signs. It has increased from its lowest value of $3371 to $3460. Many experts are of the view that Bitcoin will regain its all time high value in 2019 when its reach will extend. For this, we have to educate people and tell them the real worth of blockchain technology.

Leave a Reply

Your email address will not be published. Required fields are marked *


Follow Us will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity. All trademarks, images and logos that appear on this site are copyrights of their respective owners and have been used under the Act of Fair Use.

Copyright © 2022 · | Privacy Policy | Earnings Disclaimer Protection Status