Bitcoin’s Winning Streak Finally Comes to an End

After the creation of the cryptocurrency’s first yellow candle on January 18, the two week winning run that followed was Bitcoin The days of (BTC) are over.

It seemed that Bitcoin could surpass or break the November 2013 record of 15 consecutive days of positive price movements. This would have marked the longest such stretch in Bitcoin’s history.

The record was not broken but Bitcoin managed to post the longest winning streak since 2013, a run that some Twitter critics called “crazy”. # denotes Bitcoin. Two weeks of bullish daily candles do not cancel one bearish candle.

the 18th of January, 2023 — IncomeSharks (@IncomeSharks) The primary reason for the negative price action appeared to be an ominous announcement made earlier on January 18 by the United States Department of Justice (DOJ), which stated that it would “announce an international cryptocurrency enforcement action.” [Citizens] You should know that the DOJ can take legal action against anyone involved in illegal activity related cryptocurrency.

It turned out that the action was against Bitzlato, a cryptocurrency exchange located in Hong Kong with connections to Russia. Many assumed it might be against a prominent cryptocurrency organisation or exchange.

 

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