Bitcoin Has Been on a Downward Trend for 6 Months: Only the Second Time in History—Here’s What Happened Last Time

A notable data point in the Bitcoin (BTC) market reveals that the largest cryptocurrency is approaching a rare performance threshold.

According to data shared by the analytics platform Coinglass, Bitcoin’s year-to-date return is negative at 0.76%. This could mark only the second time in history that the price has fallen for the sixth consecutive month, marking a “six-month losing streak.”

Historical data shows that a similar scenario has only occurred once before. Between August 2018 and January 2019, Bitcoin lost approximately 54.8% of its value. However, this decline was followed by a strong market recovery, with Bitcoin’s price rising by a total of 208.1% in the five months from February 2019 to June 2019.

Historical data shows that a similar scenario has only occurred once before. Between August 2018 and January 2019, Bitcoin lost approximately 54.8% of its value. However, this decline was followed by a strong market recovery, with Bitcoin’s price rising by a total of 208.1% in the five months from February 2019 to June 2019.

*This is not investment advice.