Inside money, markets, and big tech

Welcome to the longest Bitcoin bear market in history

Take that, 2013 to 2015!

You are in the most intense Crypto Winter ever felt.

By the end of today, we will have survived more straight days (411) of falling Bitcoin BTC value than at any other point in its 10-year history.

The previous record for downward price movement in cryptocurrency was the stretch between November’s end 2013 and mid-January 2015, when Bitcoin‘s price fell from $1,100 to just $200.

For reference, the price of Bitcoin peaked halfway through December 2017, when it briefly soared past $19,000. It has been dropping ever since.

bitcoin, bear, market
Do you remember what the bull market felt like?

Congratulations – you’re still here

This bear market has caused so many casualties. Blockchain startups like ConsenSys, STEEM, Ethereum Classic, and most recently NEM, have all used the Bitcoin bear/boogeyman to explain away their failure to make necessary return on investment.

The thing is, nobody knows how long this nightmare will continue, although there have been some estimated guesses.

One group of cryptocurrency analysts studied how often Bitcoins are moved, and concluded we are most probably in the final phase of the bear market.

This means we could soon enter a long accumulation period (where Bitcoin bulls start to collect as much Bitcoin as possible.)

Goddamn, they had better be right.

Published February 1, 2019 — 15:54 UTC