Home / Bitcoin / Bitcoin is on track to do something he has not done in 4 years

Bitcoin is on track to do something he has not done in 4 years

Bitcoin is breaking all sorts of records at the moment, most of them is not wanted, and in a few days it will be equal to an unmatched milestone in four years.

Not since October 2014 has the price of bitcoins

BTCUSD, -2.31%

seen four consecutive monthly declivities, and a negative closing for the month of November, which now seems obvious, would correspond to this prow fall every month since August, according to Dow Jones Market Data.

How remarkable is this record? On October 31, 2014, when the previous fourth-month loss series ended, a single bitcoin could be collected for $ 336.


A fourth consecutive losing month is looming for bitcoins

To read: Bitcoin breaks below $ 4,000 as sales deepen

After the November opening of over $ 6,500, the bitcoin fell more than 40% and since the four-month series began on August 1, the value of the most famous digital currency in the world has more than halved .

During the four month period, a number of important investors called their shot to raise the fund. "I think we put a limit yesterday," Michael Novogratz said in a tweet dated September 13, when a bitcoin brought you back to just over $ 6,000.

On September 30, an investigation conducted by Fundstrat Global Advisors found that 44% of investors believe that the bitcoin has hit the bottom, and in a research note on October 4, Fundstrat said that 54% of participants at a private dinner with institutional investors he said the worst was over for cryptocurrency.

Now, as the bottom-pickers are devoured, the detractors are noisier than ever, promoting their narrative that the encrypted industry is nothing but a scam.

"This was a trivial scam that peaked in the period between the end of December 2017 and the beginning of January 2018 and has since collapsed, it was so obvious that I could see it too," wrote financial analyst Wolf Richter in a recent note.

On Tuesday, a single bitcoin was recovering $ 3,729.45.

To read: Bitcoin is imploding – that's where the bulls and the bitcoin bears see it from here

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