Two weeks long Bitcoin (BTC) winning streak finally came to an end when the cryptocurrency made its first red candle on January 18.
A day ago, BTC was forming up Match or even beat Its record of 15 consecutive days of positive price movements dating back to November 2013 is the longest such streak in its history.
Although the record was not beaten, Bitcoin posted the longest winning streak since 2013’s record in what some commentators on Twitter described as “ridiculous”.
#Bitcoin – A daily red candle does not erase 2 weeks of fast green candles. We already needed one, that was just up-run ridiculous. It’s just as bad as celebrating a bounce after missing an entire downward movement (I’ve done it). I hope you treat bears the same way. pic.twitter.com/LJIbBKbE8c
— Income Sharks (@IncomeSharks) January 18, 2023
Coin Telegraph Data Shows that Bitcoin was and was close to a 2.4% loss on the day. Less than $21,000 backIt has not reached this level since the bankruptcy of crypto exchange FTX in early November last year.
Related: Tucker Carlson Outlines Wild Theory to Explain Bitcoin’s Price Rise: ‘More Tons of Foil’
The main reason for the negative price action appears to be an early announcement by the United States Department of Justice (DOJ) on January 18 that it will “announce international cryptocurrency enforcement action.”
Many speculated that it might be against a major exchange or crypto company, but it turns out. the process was against An unknown exchange Called Bazzlato, based in Hong Kong with ties to Russia. The founder of the exchange, Anatoly Legkodimov, was also arrested.
#Bitcoin #ends #ridiculous #14day #winning #streak