Bitcoin posts worst start to a year on record

Bitcoin is having its worst start to a year on record, down 23% year-to-date, CoinDesk reported. The outlet noted that, according to CoinGlass data, Bitcoin has never previously posted consecutive losses in both January and February. While the cryptocurrency saw double-digit declines in January of 2015, 2016, and 2018, it rebounded in February each time. The current index reading 50 days into the year is 0.77, below the typical bear market average of 0.84. This performance also breaks a historical pattern where Bitcoin typically sees above-average returns in the year following a U.S. presidential election; last year, it fell 17%.