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

The two-week-long Bitcoin (BTC) winning streak has yet travel to an extremity aft the cryptocurrency formed its archetypal reddish candle connected Jan. 18.

The time prior, BTC was shaping up to match oregon adjacent beat its November 2013 grounds of 15 consecutive days of affirmative terms movement, the longest of specified streaks successful its history.

While the grounds wasn’t beaten, Bitcoin did station the longest triumph streak since the 2013 grounds successful a “ridiculous” tally up according to immoderate commentators connected Twitter.

#Bitcoin - One reddish regular candle doesn't erase 2 weeks of bullish greenish candles. We needed 1 already, that up lone tally was ridiculous. It's arsenic atrocious arsenic celebrating a bounce aft missing a full determination down (I've done it). I expect you springiness the bears the aforesaid treatment. pic.twitter.com/LJIbBKbE8c

— IncomeSharks (@IncomeSharks) January 18, 2023

Cointelegraph data shows Bitcoin neared a 2.4% nonaccomplishment implicit the time and was back nether $21,000, a worth it hadn’t reached since the bankruptcy of crypto speech FTX successful aboriginal November past year.

Related: Tucker Carlson outlines chaotic mentation to explicate Bitcoin terms rise: ‘Maximum tin foil’

The superior origin for the antagonistic terms enactment appeared to beryllium an ominous announcement by the United States Department of Justice (DOJ) earlier connected Jan. 18 saying it would “announce an planetary cryptocurrency enforcement action.”

Many speculated it could beryllium against a large speech oregon crypto company, but it turned retired the action was against a little-known exchange called Bitzlato based successful Hong Kong with ties to Russia. The exchange’s founder, Anatoly Legkodymov, was besides arrested.