Thursday, March 28

Bitcoin Has Worst Start to Year Since Crypto Winter, Bloomberg Says


Bitcoin recorded its worst start to the year since the crypto winter swept the market, with the month of January being an inflection point. That’s because, in 2019, the market recovered and arriving in 2020, Bitcoin’s high broke the all-time highs.

This situation continued in 2021, even with some corrections in the price of the digital currency. However, after a fall that started at the end of 2021, the market did not react well to the movement at the beginning of 2022, showing that the situation remains delicate.

In 2017, Bitcoin’s rise in the market attracted people from all over the world to its ecosystem, which saw its price go from $1,000 to $20,000 that year. This explosion in the price certainly led those who profited to realize their positions, which began to happen in 2018.

Bitcoin records worst start to year since crypto winter?

In January of that year, the crypto winter began, which marked the Bitcoin community at the time, which saw the first quarter of 2018 lose 50% in the price of the coin, the highest for the period. But it didn’t stop there, with the slump lasting until early 2019, when winter ended.

Although this was a few years ago, many still remember the occasion and do not expect to repeat it. But Bloomberg warned that Bitcoin’s start to 2022 is the worst start to the year since the crypto winter, indicating that investors should remain vigilant.

Bitcoin at the beginning of January 2022 the worst start to the year since the crypto winter / Reproduction: Bloomberg

Bitcoin’s fall has taken other coins along, such as Ethereum, which has lost 30% this past January. Bitcoin, it is worth noting, lost 17% of its price in the consolidated for January.

‘Six months ago it was green, now it’s yellow light’

In conversation with Bloomberg, Troy Gayeski, chief strategist at a company, said that the cryptocurrency market is volatile and that hasn’t changed. So, he said, investors “were seeing a green light six months ago, but now the light is yellow,” indicating that it is important to watch and slow down.

Bitcoin’s fall in January is one of the biggest in recent months, just not having surpassed that of May 2021, which is still the biggest in the last year. In any case, the 50% drop from the maximum price at the beginning of the year worries many investors, who continue to monitor whether Bitcoin will not soon go through a crypto winter again.





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