Bitcoin's first 7-month consecutive price drop is at the horizon

04 Feb, 2019
by Joeri Cant
Bitcoin
Bitcoin's first 7-month consecutive price drop is at the horizon

Crypto Analyst Alex Kruger, took to Twitter to point out the fact to his 24.6K Twitter followers that Bitcoin has never before traded more than six months in the same direction.

Kruger tweeted that Bitcoin has never before traded more than six months in the same direction.

'A down February would represent seven straight red months. Would be a first', he said.

Kruger, best known as a crypto trading analyst, said that Bitcoin had only seen six consecutive green months twice in its 10-year history, and only one time a 6-months consecutive red month period, which is the one we are experiencing now.

So if February turns out to be copycat of the previous months before it, this will be the very first time that Bitcoin has been trending downward for 7 months straight.

This longest-ever bearish market has already beaten faith out of Bitcoin, and this next 'milestone' will only contribute to that.

However, one must stay positive and as Chepicap previously reported, an anonymous trader who gained crypto stardom for turning a profit of 200 million trading Ethereum, said that the next Bitcoin block reward halving will bring an end to the bear market.

'The closer this moment is, the closer is the end of the winter', the crypto trader said. 'I would advise you to count down the remaining days before halving, rather than count the number of days the bear market lasts.'

The upcoming BTC block reward halving is scheduled to take place in May 2020, which should give you ample time to build up your Bitcoin portfolio.

Read more: "The next BTC block reward halving will end the bear market," says trader

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Read more about: Bitcoin (BTC)

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