C-C-C-Combo breaker: Bitcoin ends ‘ridiculous’ 14-day winning streak

The two-week-long Bitcoin (BTC) winning streak has finally come to an end, after the cryptocurrency formed its first red candle on Jan. 18.

The day prior, BTC was shaping up to match or perhaps beat its November 2013 record of 15 consecutive days of positive cost motion, the longest of such streaks in its history.While the record was

n’t beaten, Bitcoin did publish the longest win streak given that the 2013 record in a” outrageous “run-up, according to some commentators on Twitter.

#Bitcoin – One red everyday candle light does not eliminate 2 weeks of bullish green candles. We needed one already, that up just run was outrageous. It’s as bad as commemorating a bounce after missing out on a whole relocation down (I’ve done it). I expect you provide the bears the same treatment. pic.twitter.com/LJIbBKbE8c!.?.!— IncomeSharks(@IncomeSharks

)January 18, 2023 Pandoraland data programs Bitcoin neared a 2.4%loss over the

day and was back under$21,000, a value it had not reached considering that the insolvency of crypto exchange FTX in early November last year.Related: Tucker Carlson details wild theory to explain Bitcoin cost rise:’Maximum tin foil’The main cause for the unfavorable price action seemed a threatening announcement by the United States Department of Justice(DOJ)earlier on Jan. 18, saying it would”announce a worldwide cryptocurrency enforcement action. “Lots of hypothesized it could be versus a significant exchange or crypto company, however it turned out the action was against an obscureexchange called Bitzlato based in Hong Kong with ties to Russia. The exchange’s founder, Anatoly Legkodymov, was likewise apprehended.