Bitcoin Mirrors 2018 Crash: Is $3K History Repeating for BTC?

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News Bitcoin is currently on track to record a four-month losing streak. Advertisement This specific sequence (four or more consecutive negative monthly candles) has not occurred since 2018. The year was infamous for the excruciatingly brutal "crypto winter" that drove BTC prices down to the $3,000 range. Bitcoin's slide began with a modest drop of 3.69% in October. During this month, the cryptocurrency lost its momentum after hitting a new record high. HOT Stories Institutional Demand for XRP ETFs Cools Crypto Market Review: Is XRP in Perfect Spot for $3 Run? Ethereum (ETH) $3,500 Blowup Is Ready, Shiba Inu (SHIB) Needs Rocket Fuel Now Paul Graham Says Gensler's Approach to Crypto Was 'Really Stupid' 'Greatest Risk' to Bitcoin Identified by Strategy's Saylor In November, the floor fell out. Bitcoin plummeted 17.67%. This was the worst single month since the FTX collapse in late 2022. Advertisement You Might Also Like Mon, 04/28/2025 - 07:06 Google Searches for Bitcoin Plunge, Bitwise CEO Sees Silver Lining By Alex Dovbnya Bulls failed to mount a "Santa Rally," which resulted in a 2.97% decline. The new year has offered no respite despite a short-lived rally. If January closes red, this confirms a four-month bearish block. Advertisement The last time this occurred was the second half of 2018. In 2018, the streak actually extended to five months. If today mirrors 2018, we haven't seen the "flush" yet. A true 2018-style repetition would imply a sudden, violent crash to finally wipe out stubborn holders. Getting crushed by silver In the meantime, silver prices are currently outperforming Bitcoin by one of the widest margins on record. The performance divergence over the last 13 months is nothing short of historic. The metal has surged by 270%. In the same period, the flagship cryptocurrency has actually lost value, plunging by 11%. Silver’s total market capitalization is now 3.5 times larger than Bitcoin’s. #Bitcoin Price Prediction