There is nothing left until the end of the ninth consecutive week of Bitcoin declines
The bitcoin market is on the verge of closing its ninth consecutive downtrend in the weekly view, and we will probably see a new record for the longest downtrend in the history of this digital currency in a few hours. However, some altcoins have experienced double-digit growth in the last 24 hours.
To Report Crypto Potito, the digital currency market, has not been able to recover in the last 7 days and, on the contrary, has seen more prices fall. As it turns out, Bitcoin is now preparing to close its ninth consecutive weekly downtrend.
For the first time in history, the price of bitcoin has been declining for nine consecutive weeks. However, there are still a few hours left until the closing of the weekly candle and the market trend may change at this time. Of course, if we want to consider the situation in the market over the past few days, such a scenario does not seem very likely.
At the time of writing, Bitcoin is trading at $ 29,100, up 1 percent over the past 24 hours. However, the price of this digital currency has dropped by 2.5% in the last 7 days. These seven days have been accompanied by a lot of fluctuations and a slow drop in prices, which has made market conditions somewhat more turbulent.
The starting price of Bitcoin this week (Monday last week) was $ 30,264, which is more than 4% away from the current level. Meanwhile, the bitcoin fear and greed index is still at the level of “extreme fear”.
Altcoins had a relatively steady trend today
Most altcoins have been relatively unchanged over the past 24 hours. At the time of writing, most of these digital currencies have experienced very little growth.
The EVMOS token had the highest growth in the last 24 hours with a 45% increase, followed by the Olench with a 13% increase. On the other hand, Luna Classic, the old token of Terra network, has recorded the biggest drop in the market in the last day with a 30% price reduction. Of course, given the Tera 2.0 launch last day, such a drop was predictable.
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