RATE Group | Bitcoin Closed Q4 in Losses; Two Major Catalysts For a Rally in Q1/2020
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Bitcoin Closed Q4 in Losses; Two Major Catalysts For a Rally in Q1/2020

01 Jan Bitcoin Closed Q4 in Losses; Two Major Catalysts For a Rally in Q1/2020

Posted at 09:37h in Bitcoin News by

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Bitcoin closed 2019’s final fiscal quarter in losses.

The benchmark cryptocurrency is down by circa 21.5 percent on a quarter-to-date basis. The move downhill has extended its half-yearly losses to 33.35 percent.

bitcoin, cryptocurrency

Bitcoin in a deep downtrend since July 2019 | Source: TradingView.com

Nevertheless, exponential gains during the first two quarters have kept bitcoin inside positive territory. From January 1 until the time of this writing, the cryptocurrency has gone up by more than 95 percent. The long-term performance is keeping the market’s interest in the asset alive.

Part of the reason is bitcoin’s ability to hold on to certain technical support levels during December 2019. In more than two instances, the $6,400-6,500 range has rejected bears’ strong downside attempts. Each time bitcoin tested the range, it got pulled back to the north by bulls.

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