Bitcoin (BTC) is approaching another historic milestone which makes it the second time this month. The asset will complete four consecutive months of losses if the current month ends with a negative performance.
The previous occurrence of this event happened in 2018. The long-term holders of that year face ongoing challenges. The market experienced a period when optimism broke down, trading volumes of BTC decreased, and prices reached their lowest point at approximately $3,000.
The current market decline started without any notice. In October, BTC slipped by 3.69%. The situation contained important elements because it lacked any major developments. The all-time high market peak reached its highest point before dropping because traders lost interest. November proved to be an extremely challenging month.
BTC fell 17.67% which became its most severe monthly drop since the FTX exchange went down in late 2022. The first signs of uncertainty appeared. The available cash resources decreased. The atmosphere of fear returned to the market.
December provided no extraordinary results. The market saw no Santa Rally. The market saw Bitcoin price decline by 2.97%. The price experienced a temporary increase but it could not sustain itself.
The chart will display four consecutive red monthly candles if January ends with a negative result. The sequence alone brings BTC into a state of unusual and difficult market conditions.
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The last time Bitcoin printed four red months in a row was in the second half of 2018. The streak did not stop at four during that time period. The streak continued for five consecutive months.
The system experienced an abrupt shutdown which brought about total market collapse. The rapid price drop forced all market participants to sell their holdings. The market has not yet reached its final selling point according to historical patterns.
BTC encounters difficulties while silver experiences strong growth. Silver prices have increased by 270% during the past 13 months. The value of BTC has decreased by 11% during the same time period.
The present situation represents an unprecedented separation between two points. Silver market capitalization now exceeds BTC market capitalization by a factor of 3.5. The difference between these two assets which were first marketed as digital gold appears extremely different from each other.
Bitcoin remains operational. Yet the evidence shows BTC has been defeated. The situation requires people to demonstrate their ability to remain patient while holding onto their beliefs throughout all testing times.
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