Bitcoin Sees Seven Straight Weeks of Losses For the First Time
- Date: 16-May-2022
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
Bitcoin Sees Seven Straight Weeks of Losses For the First Time
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Bitcoin (BTC) saw seven straight weeks of losses for the time first in its history amid a downturn in broader markets, stricter crypto regulations, waning retail interest, and systemic risks in the crypto space, data shows.
Bitcoin neared the $47,000 level in mid-March in a run that lasted a couple of weeks after a fall to $37,000 from November’s lifetime highs of nearly $69,000. The asset has since slid every week and could fall to as low as $20,000 if current market conditions continue.
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