The price of Bitcoin has struggled since the end of March, as the price of Bitcoin lost more than $15,000.

In addition, Bitcoin’s bearish trajectory set a negative record, closing six consecutive weeks with red candles for the first time in nearly eight years.

Six red weeks in a row:

Back in time to mid-March.

The bitcoin spectacle was not suggesting that the price of the coin would go that far, as bitcoin struggled and remained hovering around $40,000.

But since then everything has changed.

After the crypto community rejoiced that Bitcoin approached the $50,000 level in March 2022 and the Fear and Greed Index entered the “greedy” zone for the first time in almost a year, everything seemed to be thriving.

Read:Report: More Liquidations Still Before Cryptocurrency Prices Recover

But the bitcoin currency did not do it and could not reach the level of 50 thousand dollars, and entered into a continuous negative streak, which has continued to this day after more than six weeks.

As the chart below shows, Bitcoin has been declining since the end of March similar to what happened 8 years ago.

A drop to $33,000 earlier today meant that Bitcoin lost about $17,000.

Bitcoin closed six consecutive weekly red candles for the first time since 2014.

Is there more downfall?

Although the opposite line was broken by a large green candle, Bitcoin fell further in the next several weeks.

In fact, Bitcoin similarly bottomed out at $155 in mid-January 2015.

As such, if the similarities persist now as well, it would be safe to prepare for another drop.

This was recently predicted by some analysts who believe that Bitcoin could continue to fall to lower levels.

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