Since the dawn of this year, Bitcoin has taken refuge in a bear market, unable to recover above key resistance levels. It suffered from waves and waves of sell-offs that have left it below mid 2017 levels, the pre-hype seasons.
From 14th November 2018, the Bitcoin price has declined from above $6,400 to $3,580 press time. The lowest this year was $3,551 on January 15. From January 20, the cryptocurrency then wrapped itself around that bare minimum line and is since around it at all times.
Turns out, if the Bitcoin price remains below $16,000 by February 2, it will have suffered the longest bear market in its ten-year history.
Is this how Bitcoin gonna go, forgotten slowly until no one remembers the name or is this the rock bottom, nowhere to go but up?
There’s a light ray in the night of terror out there. Bitcoin volatility has reached a more-than two-month low today, offering the critics a shut up call for the adoption argument.
Below is a 60 day graph of Bitcoin volatility.
The can’t-be-adopted argument states that because of its blazing volatility, Bitcoin won’t be able to be adopted in domestic spheres.
Photo by Jesse Collins on Unsplash
