Bitcoin Poised to Log Its Longest Monthly Losing Streak Since 2018

BlockBeats News, January 30th, Bitcoin is heading towards its longest monthly losing streak in nearly seven years. As market risk aversion intensifies and traditional safe-haven assets fiercely compete for capital inflows, investor demand for Bitcoin remains weak. Bitcoin has fallen by nearly 6% so far in January, potentially marking the fourth consecutive monthly decline, setting the longest monthly losing streak since 2018.

In 2018, the fading of the initial coin offering (ICO) boom led the cryptocurrency market into a downward spiral.