173 days and counting: Bitcoin stumbles onwards

Bitcoin has now gone 173 days without reaching record levels as it did at the end of last year when it neared $20,000 (£14,910).

On Thursday and also today, the price of Bitcoin has hovered below $7,800 (£5,814.90) and for a few days its volatility has remained at all time lows.

Pension Partners Research Director Charile Bilello says: “173 days have passed without Bitcoin reaching an all-time high, which it last accomplished in mid-December. Since then it has tumbled by about 60% … that marks the longest stretch without a fresh record since the 1,176-day period that ended in the late summer of 2016.”

Statistics also show that the longest sideways drift or period without forming any notable trends and neither the bulls or bears controlling prices was recorded between 2013 and 2017, when prices picked up again during the summer.

 

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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