With prices trading sideways around $6,400 for the 10th day straight, bitcoin risks reporting a yearly loss for its 10th birthday.
At press time, BTC is trading at $6,414, as per CoinDesk's Bitcoin Price Index - up 4.46 percent on a yearly basis.
The annual performance would turn negative if the lateral trading continues for another 48 hours.
Further, the year-on-year losses would deepen if the cryptocurrency fails to pick up a bid next month.
Prices had witnessed a near 90-degree rally to levels above $8,000 in November 2017 on speculation that BTC futures listing would perhaps open new doors for the world's yield-hungry institutional investors.
BTC topped out around $20,000 in December 2017 and has remained under pressure this year.
A significant majority believes the cryptocurrency has likely charted a "Classic bottom" around $6,000 in the last four months, although a bullish reversal is seen only above the September high of $7,400.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Bitcoin image via Shutterstock; charts by Trading View.
CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Bitcoin Price May Report Yearly Loss on Its 10th Birthday
Udgivet den Oct 29, 2018
by Coindesk | Udgivet den Coinage
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