For the First Time in 8 Years: Bitcoin Marks 6 Consecutive Red Weekly Candles
Bitcoin’s price has suffered quite a bit since the end of March, losing over $15,000 in this period. Moreover, the asset’s downwards trajectory has set a negative record as it closed six consecutive weeks with red candles for the first time in nearly eight years.
Let’s go back to the middle of March. The BTC landscape was not all that favorable as it struggled below $40,000. However, it all changed when the asset initiated two massive weekly leg ups that resulted in nearing $50,000.Yet, what comes up must go down, as the saying goes. Bitcoin was not only halted in its tracks at the coveted $50,000 line but went into a negative streak that continues until this day – more than six weeks later.
