August 17, 2022

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Bitcoin heads for worst quarter since 2011 - E24

Worst Month Ever for Bitcoin – E24

Bitcoin leaves the weakest month in 12 years that has been available on cryptocurrency exchanges, according to several media.

Posted:

The 41 percent drop in June is the sharpest in Bloomberg data dating back to 2010, writes news agency.

also CNBC Reports indicate that the month was the worst for Bitcoin ever.

Bitcoin cost about $19,174 on Friday afternoon.

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under pressure

Cryptocurrency prices came under strong pressure in the last quarter.

The decline in the value of the cryptocurrency was largely followed by a drop in the stock market and fear of rising inflation and higher interest rates. However, Bitcoin has done relatively well compared to many smaller cryptocurrencies.

Global stock markets will soon conclude their turbulent second quarter. The S&P 500 is heading for its worst first half since 1970.

There are concerns about fiery inflation forcing global central banks to raise interest rates. It also raises fears of a global recession.

Bitcoin is still under pressure, as is a lot of other things. The combination of high inflation, high interest rates, and fears of a recession is weighing on cryptocurrencies, Yves Longchamp, head of research at CIBA, told CNBC.

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