Highlights from the Paris Blockchain Week
Over 10,000 attendees gathered at the Carrousel du Louvre from March 17 to March 24, 2023, for the fourth edition of the Paris Blockchain Week...
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If the bitcoin price stays below $16,000 until February 2nd, the cryptocurrency will have suffered its longest bear market ever, CCN reports.
In traditional money and credit markets, a decline of 20 percent – from the highest level and during at least two months – is considered to be a so-called “bear market”. The expression simply means that the trend in the market is negative.
Bitcoin has been in such a bear market since January 2018. The price has been under sales pressure for much of the year. Since November, the price has dropped from $6,000 to $3,000 – a $3,000 decline, according to Coinmarketcap.
Bitcoin’s current record regarding the longest correction took place between 2013 and 2015. Then a bear market went on for 420 days. Bitcoin is now about to set a new record.
A 20 percent drop from bitcoin’s highest level of $20,000 is $16,000. Therefore, if the price stays below $16,000 until February 2nd this year, the record is beaten, CCN reports.
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