Bitcoin Faces First Back-to-Back Annual Losses in History, But There's a Catch

Bitcoin, the world's largest cryptocurrency, is on track to record its first back-to-back annual losses in history, according to data from CoinDesk. However, it's important to note that this is not a typical market cycle, as Bitcoin has only existed for 13 years and has not yet experienced a full market cycle.

The cryptocurrency has lost around 65% of its value this year, following a 67% drop in 2022. Despite the losses, Bitcoin remains the largest cryptocurrency by market capitalization.