Bitcoin has recorded a decline in value out of nine weeks
According to BitMEX research, Bitcoin renewed its uninterrupted series of value declines over nine weeks. Information from company cryptodefix. Prior to that, the anti-record was set in January 2015 at 7 weeks.
As many have mentioned, it looks like the Bitcoin price will decline for 9 consecutive weeks. The largest ever number of consecutive week on week declines— BitMEX Research (@BitMEXResearch) May 29, 2022
The previous high was 7 weeks, ending 12 Jan 2015
There are also 3 periods of 6 week on week consecutive price declines
A wave of six consecutive red candles on the chart was observed three times. From March 21 to May 29, BTC fell by 37.2%, from $46864 to $29449. The cryptocurrency is now trading at $30625.
The main prerequisites for the decline in the value of Bitcoin can be attributed to expectations of a tightening of the Federal Reserve's policy on cryptocurrencies. The fall of the UST token and the Terra system also had an impact.