Bitcoin on track for its worst quarter in more than a decade
— Suffering, Largest cryptocurrency, Stocks, Jacob joseph, Second quarter, Track, Coindesk data, Btc, Cycle compare, Led — 1 min read
World's largest cryptocurrency has lost 58% of its value in the second quarter of 2022. Bitcoin has fallen from $45,524 at the start of the quarter and was trading at around $18,000 on Thursday. This is the worst quarterly performance for bitcoin since the third quarter of 2011. Meanwhile, ether is down 69.3% and is on track for its worst quarter on record dating back to its inception in 2015. The latest downturn is being described as a new "crypto winter" and has also impacted growth and hiring at companies. In May, Guggenheim Chief Investment Officer Scott Minerd, said bitcoin could drop to $8,000. At the time, the cryptocurrency was trading in around $30,000. Source