Worst quarter in 11 years as Bitcoin price and activity plunges
⚈Quarterly returns on Bitcoin haven’t been this bad since it was trading under $20 in the early days of Mt. Gox, but the stock market isn’t faring so hot either.
⚈Bitcoin (BTC) has seen its worst quarterly loss in 11 years with price and activity on the blockchain both plunging over the last three months.
⚈The second quarter ending June 30 saw Bitcoin’s price fall from around $45,000 at the start of the quarter to trade at $19,884 before midnight ET on June 30 according to CoinGecko, representing a 56.2% loss according to crypto analytics platform Coinglass.
⚈It’s the steepest price fall since the third quarter of 2011, when BTC fell from $15.40 to $5.03, a loss of over 67% and worse than the bear markets of 2014 and 2018, when Bitcoin’s price slumped 39.7% and 49.7% in their worst quarters respectively.
⚈The past quarter saw eight weekly red candles in a row for Bitcoin and the month of June saw a draw down of over 37%, the heaviest monthly losses since September 2011 which saw the price fall more thaner 38.5% in the month.
https://cointelegraph.com/news/worst-quarter-in-11-years-as-bitcoin-price-and-activity-plunges