{"id":62208,"date":"2022-05-30T11:56:25","date_gmt":"2022-05-30T08:56:25","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=62208"},"modified":"2025-09-05T16:35:53","modified_gmt":"2025-09-05T13:35:53","slug":"bitcoin-records-nine-week-streak-of-declines","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-records-nine-week-streak-of-declines\/","title":{"rendered":"Bitcoin records nine-week streak of declines"},"content":{"rendered":"<p>Bitcoin&#8217;s price fell for the first time in history after nine consecutive weeks of declines. Previously, the record streak had not exceeded seven weeks.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">As many have mentioned, it looks like the Bitcoin price will decline for 9 consecutive weeks. The largest ever number of consecutive week on week declines<\/p>\n<p>The previous high was 7 weeks, ending 12 Jan 2015<\/p>\n<p>There are also 3 periods of 6 week on week consecutive price declines<\/p>\n<p>\u2014 BitMEX Research (@BitMEXResearch) <a href=\"https:\/\/twitter.com\/BitMEXResearch\/status\/1530983826876510208?ref_src=twsrc%5Etfw\">May 29, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to BitMEX Research, a run of six consecutive weekly red candles occurred three times.<\/p>\n<p>From March 21 to May 29, Bitcoin fell 37.2%\u2014from $46,864 to $29,449 (Bitstamp data). At the time of writing, the asset was trading at $30,585.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"597\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2022-05-30_11-14-20-1024x597.png\" alt=\"Bitcoin records a nine-week streak of declines\" class=\"wp-image-174462\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2022-05-30_11-14-20-1024w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2022-05-30_11-14-20-300x175.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2022-05-30_11-14-20-768x447.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2022-05-30_11-14-20.png 1478w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Weekly Bitcoin chart from the Bitstamp exchange. Data: TradingView.<\/figcaption><\/figure>\n<\/div>\n<p>The main driver of the downturn was <a href=\"https:\/\/forklog.io\/aprel-2022-v-tsifrah-korrektsiya-rynka-vzlet-algoritmicheskih-stejblkoinov-i-vtoroe-dyhanie-nft\/\">the expectation of tighter Fed policy<\/a>. During May, additional pressure was created by the <a href=\"https:\/\/forklog.io\/spiral-smerti-terra-kak-i-pochemu-luna-i-ust-poterpeli-krah\/\">Terra ecosystem collapse<\/a>. The events accelerated the pace of declines in the cryptocurrency market relative to the Nasdaq index. By the end of April, the correlation with the stock indicator <a href=\"https:\/\/forklog.io\/v-bank-of-america-usomnilis-v-bitkoine-kak-sredstve-spaseniya-ot-inflyatsii\/\">reached record levels<\/a>.<\/p>\n<p>JPMorgan analysts put Bitcoin&#8217;s fair price at <a href=\"https:\/\/forklog.io\/analitiki-jpmorgan-nazvali-spravedlivuyu-tsenu-bitkoina\/\">$38,000<\/a>.<\/p>\n<p>Guggenheim Partners&#8217; Chief Investment Officer Scott Minerd and Bitcoin critic Peter Schiff warned that the price of digital gold could fall to $8,000.<\/p>\n<p>Subscribe to ForkLog&#8217;s YouTube channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin&#8217;s price fell for the first time in history after nine consecutive weeks of declines. Previously, the record streak had not exceeded seven weeks.<\/p>\n","protected":false},"author":1,"featured_media":62209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480],"class_list":["post-62208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=62208"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62208\/revisions"}],"predecessor-version":[{"id":62210,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62208\/revisions\/62210"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/62209"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=62208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=62208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=62208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}