Fall of Bitcoin: Downward trend towards the longest losing streak since 2018
Bitcoin appears to be sinking into one of its worst periods in history, with monthly losses setting a pattern not seen in the past seven years. Growing market concerns, combined with investors' preference for safe havens, have curbed demand for the cryptocurrency.
According to Bloomberg reports, Bitcoin's value has fallen nearly 6% since the beginning of January , marking its fourth consecutive month of decline — a trend reminiscent of the ICO crash of 2018.
In recent trading, the price of Bitcoin has fallen about 3,9%, reaching around $81.100, the lowest level since November, with this trend intensifying after downward movements the previous night.
Bitcoin's decline is taking on even more worrying proportions as the prices of traditional safe-haven assets, such as gold and silver, reach new heights.
The total volume of cryptocurrencies in circulation has fallen by over $200 billion since Thursday, according to data from CoinGecko.
"The concern about mass investments τεχνολογικών κολοσσών στον τομέα της τεχνητής νοημοσύνης, που δεν συνοδεύονται από τα αντίστοιχα earnings, φαίνεται να επηρεάζει και ευρύτερες κατηγορίες υψηλού κινδύνου, όπως τα κρυπτονομίσματα», points out Matt Howells-Barby, vice president of the Kraken platform.
Bitcoin: Biggest drop since 2018
Source: Bloomberg
## TechNoid.gr's opinion
The situation surrounding Bitcoin is worrying, as investors are becoming hesitant in the face of this downward trend. The concentration of funds in traditionally safe investment products, such as gold, shows that insecurity prevails in the financial market. Therefore, while awaiting developments in the field of cryptocurrency, it is crucial for Greek investors to monitor trends and carefully evaluate their investment strategies.
