For Bitcoin, the second quarter of 2022 was the worst in 11 years
- July 1, 2022
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The 56.2% drop in the price of the first cryptocurrency in the April-June period was the strongest since the third quarter of 2011, when losses reached 67%. Such
The 56.2% drop in the price of the first cryptocurrency in the April-June period was the strongest since the third quarter of 2011, when losses reached 67%. Such data is provided by Coinglass.
During this period, bitcoin fell from $45,000 to $19,884. In the 2014 and 2018 bear markets, the quarterly dynamics did not exceed 39.7% and 49.7%, respectively.
In June, digital gold recorded its worst 37% drop since September 2011.
In the second quarter, the negative dynamics in the cryptocurrency market continued against the background of the decline in the S&P 500 index. In the first half of the year, the stock indicator lost 20.6%, showing the worst result since 1962.
S&P had its worst start to a year for the index since 1962, down 20.6% in the first half of 2022. $SPX pic.twitter.com/OMcX7yfP5o
– Charlie Billello (@charliabilello) 30 June 2022
Recall that JPMorgan strategist Nikolaos Panigirtzoglou allowed the completion of leverage in the crypto market.
Previously, Deutsche Bank experts had predicted that Bitcoin would recover to $28,000 by the end of 2022.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
