Bitcoin looks on track to close a 7th consecutive day in red. The last time happened was in 2018.

Bitcoin looks on track to close a 7th consecutive day in red and we need to go back all the way to 2018 to see a similar occurrence. That time, the 7-day downtrend started on 29th July at a price of around $8500 (not the peak of the run just like right now). After 7 days of falling back then, it saw a bounce for one day and then fell another 20% before finding any sense of stability. If history is any indicator, then the carnage has only just begun.

Winter is coming and we know what’s coming with it.