Bitcoin’s Current Week Ending in Negative would be Its 9th Consecutive Week with Similar Outcomes
Even the running week hasn’t been able to demonstrate any substantial growth or movements in the price of Bitcoin (BTC). For now, it seems that Bitcoin is stuck in the middle and it has been able to demonstrate neither a positive nor a strong negative performance.
Still, the overall trend for Bitcoin is moving in the negative zone. If the week is not able to produce any positive outcomes, it won’t be the first week ending on a negative note.
The data shows that it’ll be the latest out of the 9 consecutive weeks ending with negative outcomes. If Bitcoin ends with a negative outcome, it will have formed a negative candle to reflect the bearish trend.
Bitcoin Price Continues Declining for 9 Straight Weeks
The graph shows that the price of Bitcoin continues to fall in the negative zone. Bitcoin has been moving down a negative stream and it may continue moving in the same direction in near future. At the completion of the running week negative movement would become its 9th consecutive week with negative performance.
The analysts are hoping that as the week comes to an end, the situation becomes somewhat changed for Bitcoin. They are hoping that Bitcoin ends up demonstrating a positive movement, which would help it set foot into the next week on a positive note.
Still, given the past performance and trend of Bitcoin, it is highly likely it will be able to achieve that. Based on the statistics and the loop Bitcoin has been experiencing, its price may end up dipping.
Current Trading Price of Bitcoin
The trading price of Bitcoin at the time of publication is worth around $29,000. The data shows Bitcoin has experienced a 0.6% surge in the past 24-hours. However, the overall growth of Bitcoin in the week is 1.3% negative.
The market valuation of Bitcoin has continued getting chopped due to several negative factors. The factors are still in play, suggesting that the trading price of Bitcoin may continue plummeting.
It is predicted that Bitcoin may start its week at a trading price of $30,264 after experiencing a 4% rise in its current price.
The Fear Lives On
Due to the negative trends the investors have witnessed, they have grown very fearful of Bitcoin. They are still very hesitant about investing in Bitcoin. Many factors that have continued posing a threat to Bitcoin are still in play.
Therefore, the investors still fear that such a situation may arise again. Therefore, in fear of losing their money to the investments and the plunges, the investors are not investing much money into Bitcoin.
