RATE Group | Bitcoin’s 330% Rally in 2019 Was BTC’s Shortest Uptrend Ever; Is There Hope For Bulls?
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Bitcoin’s 330% Rally in 2019 Was BTC’s Shortest Uptrend Ever; Is There Hope For Bulls?

26 Dec Bitcoin’s 330% Rally in 2019 Was BTC’s Shortest Uptrend Ever; Is There Hope For Bulls?

Posted at 02:37h in Bitcoin News by

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Bitcoin has seen quite the year. Sure, it started slow, with the price of BTC trading in the low-$3,000s as a number of analysts feared a drop back to the $1,000s and $2,000s. Though by April and May, volatility was in full swing, with Bitcoin rocketing higher past $5,000, then $6,000. By June, the price of the leading cryptocurrency was sitting at $14,000 — up 330% from the bottom of $3,150 put in just months before, in December 2018.

Though, just as fast as Bitcoin surged, it started to collapse, faltering under the weight of sell-side pressure from the operators of the PlusToken scam and early profit-takers.

This meant that 2019 was Bitcoin’s shortest uptrend in history, for it pales in comparison to the previous bull runs that last a number of years and brought the cryptocurrency orders of magnitudes higher than it was before.

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