Bitcoin ($BTC) Just Had Its Worst Quarter in Over a Decade, Data Shows - Aliens: AI Crypto News & Markets Updates
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Bitcoin ($BTC) Just Had Its Worst Quarter in Over a Decade, Data Shows

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CryptoGlobe

Fri, Jul 01, 2022

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The price of the flagship cryptocurrency Bitcoin ($BTC) has posted its worst quarterly performance in more than a decade, as in the second quarter of this year it lost around 58% of its value, going from $45,524 to just under $19,000 at the end of the three-month period.

Ethereum’s ether, the second-largest cryptocurrency by market capitalization, lost over 69% of its value in the second quarter of this year, making it the worst quarter on record for the cryptocurrency ever since it was launched back in 2015.

The cryptocurrency space’s ongoing bear market has seen the price of BTC plunge from around $69,000 back in November 2021 to around $19,000 at the time of writing amid risk-off sentiment in the markets driven by inflation fears, interest rate hikes, and the war in Ukraine.

A research analyst at CryptoCompare, Jacob Joseph, was quoted saying that previous boom and bust cycles saw BTC drop over 80%, which “suggests that e could be in for a further drawdown period if the current poor macroeconomic conditions continue to persist.” According to the latest edition of CryptoCompare Research’s “ Digital Asset Management Review “, in June, one Bitcoin ETP’s assets under management (AUM) managed to hit an all-time high despite the current crypto bear market.

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