Home CryptocurrencyAltcoin Bitcoin ends ‘ridiculous’ 14-day winning streak

Bitcoin ends ‘ridiculous’ 14-day winning streak

by SuperiorInvest

Two-week Bitcoin (BTC) winning streak finally came to an end after the cryptocurrency created its first red candle on January 18.

The day before, BTC formed up to match or even beat its November 2013 record of 15 consecutive days of positive price action was the longest such streak in its history.

While the record wasn’t broken, Bitcoin has seen its longest winning streak since the record set in 2013 in a “ridiculous” run, according to some Twitter commentators.

Cointelegraph data shows that Bitcoin came close to losing 2.4% on the day and was back under $21,000values ​​that it has not reached since the bankruptcy of the FTX crypto exchange at the beginning of November last year.

Related: Tucker Carlson Outlines Wild Theory That Explains Bitcoin’s Rise: “Maximum Tin Foil”

The primary cause of the negative price action appeared to be the ominous announcement by the United States Department of Justice (DOJ) earlier on January 18 that it would “announce international cryptocurrency enforcement action.”

Many speculated that it could be against a major exchange or crypto company, but it turned out action was against a little known exchange called Bitzlato based in Hong Kong with ties to Russia. The founder of the stock exchange, Anatoly Legkodymov, was also arrested.

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