Bitcoin’s Drop Is Different This Time, Says Weiss Ratings Founder

Bitcoin (BTC) has shed more than 81% since hitting its all-time high, and more than 66% in the past year alone, effectively erasing all gains from the December 2017 rally. Martin Weiss, the founder of Weiss Ratings, released a statement about the drop in prices, which has led the market closer to continued capitulation selling.

“Since Bitcoin began trading actively, it has plunged by 70% or more on four separate occasions. Each time, people wrote its obituary. And each time, Bitcoin rose from the dead, rising by an average of 6,300% from low to peak. Now, Bitcoin has declined by more than 70% again, setting the stage for another major price rise likely to begin in 2019,” Weiss wrote.

While BTC prices have recovered in the p…

This article appeared first on Cryptovest

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