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.
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.
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.
👉 ***Do you want to earn a side income with a stable crypto investment platform that generates sustainable monthly yields? Get this: You can now make a steady profit margins thanks to a new innovative way of investing in crypto. YieldNodes is the answer you need to start making a decent profit with cryptocurrency investment whether you are a beginner or professional in the crypto space. A multi-tiered node rental program is what Yield nodes is bringing to the table. Master-noding is the avant-garde of generating high ROI thanks to the ingenious of Stefan Hoermann and his team. With master-noding, you invest and let the platform do the rest for you. What is master-noding? It is not TRADING. It’s a new way of generating revenue by providing technology that relies on a proof of stake approach. Yieldnodes operates these crypto master-nodes and optimizes complex strategies to ensure members earn a profit. Yield Nodes will prioritize your security by providing accurate investment options. Members get protection from external losses or unforeseen changes in market conditions. This is not in any way a get rich quick scheme; once you deposit funds; you have to wait for the yields to mature. Yieldnodes is providing a proven, innovative, and secure way of making high returns on your investment with crypto master-noding. With just a minimum deposit of €500, you are good to go! With a minimum contract duration of four months, it gives users a chance to fully experience master-noding. By joining Yieldnodes, you stand a chance of making 5 to 15% every month. If you are still wondering whether this is a safe option, you can cancel the contract at any given time. For those who want to join and upgrade their investment strategy, Yield Nodes is the solution.
Click Here To Sign up with Yieldnodes Today
PS: YieldNodes is 100% Verified and Recommended by Valforex.com.
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.
Help Us Fight Scams. Please Donate to Support Our Work. No Amount is too Little or too Big. Thank You..
Valforex.com 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.