Bitcoin Ended Its Longest Losing Streak Since… Forever
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After months of bloodshed, bears have finally begun to abate their crusade to push the Bitcoin price lower.
Throughout the month of February, the aggregate of value of all cryptocurrencies moved from $112 billion to $130 billion — a 16% rally. With this in mind, some industry commentators are all but convinced that the worst is in the rearview mirror.
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Bitcoin Ends Six Months Of Losses
What a horrid 2018 the digital asset market had. Although there were some silver linings in the crypto cloud, yesteryear was arguably rife with suffering and pain for investors at large. In fact, as per Dow Jones Market Data, which dates back to July 2010, Bitcoin (BTC) posted month-over-month red candles for half a year, the asset’s longest losing streak in its history.
But, as February has come to a head, the streak of lower lows has finally ended. In the past 28 days, the flagship cryptocurrency has proved its potency, opening the month at $3,500 and closing at $3,900 apiece.
Of course, Crypto Twitter had a bit of a field day with this simple fact. TayTrox, a technical analyst centered around Bitcoin, issued a “hallelujah” in response to the green monthly candle, an extremely rare sight in this seeming bear market.
