June of 2022: The worst month in the history of Bitcoin
Image: CoinMarketCap
Last full month, the months of June ended up being the worst month for BTC in the 12 years it has been traded on exchanges. Its value has gone down 38%, from about 29,000 USD per BTC to about 19,000. During that month, the value at times dropped even lower. There has also been a spate of other bad news in the crypto sphere lately.
Overall crypto market also took a dip from about 1.31 trillion dollars down to about 890 billion, or a drop of about 32%. Notably, other crypto (the ones excepting BTC) took less of a dip, thus lowering the BTC dominance in the market.
The market has now stabilized and it past experiences are any indication it would be reasonable to expect at least some modest growth in the near future. In the long term, I think growth can also be expected - though corrections will also be part of the process.
References
Bitcoin just had its worst month on record
MacKenzie Sigalos, CNBC, 30 June 2022
I don't hope any big growth unless the FED stops increasing the interest rate.
How far can they take the rate?
After awhile, inflation is likely going to be reflected in the price of crypto (in fiat).
I read until 2024.
Bitcoin will bounce back to new all time highs, it's just a question of time.