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Shivam Singh ChauhanKeymasterBitcoin (BTC) has lost almost 58 percent of its value in the second quarter of 2022, its largest quarterly loss in over a decade. According to cryptocurrency analysts, bitcoin has had its worst quarterly performance since the third quarter of 2011, when it lost 68.1 percent of its value.
- July 6, 2022 at 11:52 am
Meanwhile, ether is down 69.3 percent in the second quarter, on track for its worst quarter since its debut in 2015. Due to the price drop, hedge fund Three Arrows Capital has gone into liquidation, while other companies have suspended withdrawals for consumers due to liquidity difficulties.
<h2>What Does The Price Drop Reveal About the Future Trends?</h2>
The price drop has revealed concerns with a number of cryptocurrency organizations and initiatives, notably those in the lending industry and enterprises that are heavily leveraged. Bitcoin is currently trading below $20,000, yet just 26,000 addresses have BTC holdings.
The precipitous drop in the value of the flagship cryptocurrency has substantially impacted some Bitcoin whales, who are finally exiting the market or selling their coins. Bitcoin and other digital assets have suffered as a result of various factors, including the Ukraine-Russia war, increasing inflation, and fears of an imminent recession.
- This reply was modified 1 year, 2 months ago by Shivam Singh Chauhan.