The price of the first cryptocurrency for the first time in history fell for the first nine weeks in a row. Prior to this, the record series did not exceed seven 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
The previous high was 7 weeks, ending 12 Jan 2015
There are also 3 periods of 6 weeks on week consecutive price declines
— BitMEX Research (@BitMEXResearch) May 29, 2022
According to BitMEX Research observations, a wave of six consecutive weekly red candles was observed three times.
From March 21 to May 29, Bitcoin fell by 37.2% – from $46,864 to $29,449 (data from Bitstamp). At the time of writing, the asset is trading at $30,585.