Continuing its Fall, Bitcoin Had the Worst Month in Its History

Written By Eleman

Bitcoin had its worst month in its history, falling by around 38% last month. In addition, ETH, the second most popular cryptocurrency, also experienced a 47% decline in the same period.

As it is known, cryptocurrencies are becoming more and more common day by day and are seen as the ‘currency’ of the future. Although this is the case, it is possible to say that the crypto money markets have had a very bad period recently.

The leading cryptocurrency Bitcoin (BTC) has experienced serious decreases in recent weeks and has fallen to 18 thousand dollars after a long time. During this decline, which affected all cryptocurrencies, we shared many news with you and included expert opinions on the subject. Now, it has emerged how the month of June, which was very bad for the markets, took a place in the history of Bitcoin.

Bitcoin drop pushes to experience worst in history

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According to CNBC, Bitcoin has lost up to 38% in value in the past month, leaving behind its worst month in its history. In addition, Ether (ETH), the second most popular cryptocurrency, also experienced a massive drop of 47%, upsetting investors. Bitcoin was around $ 31 thousand on the first day of June. Ether, on the other hand, was trading at around $1,900 at the beginning of last month.

This decline upset many investors and caused a large amount of money to be lost. Of course, it should be noted that there are different opinions about this decline. While some hopeful investors see this collapse as a buying opportunity, others say that the situation in the market may worsen and we may not have hit the bottom yet. Regardless of the outcome, investors are advised not to make such investments in amounts they will regret and to be very careful.

As it is known, the Terra (LUNA) collapse in the past months affected the market. In addition, as we shared with you, it was stated that the decrease experienced may be due to the company called Celsius. In addition, it was stated that the reasons such as the US Federal Reserve’s interest rate hike and investors’ avoidance of risky assets may have caused the decrease.

Bitcoin (BTC) is trading around $19,188 at the time of writing, while Ether (ETH) is trading around $1,040.

Popular cryptocurrency Bitcoin has left behind its worst quarter performance and worst month since 2011.

According to CNBC’s report, the world’s largest cryptocurrency lost about 58 percent in the second quarter of 2022. About $1.2 trillion has been wiped out from the entire cryptocurrency market.

The collapse and chaos in the market led crypto companies to lay off many of their employees and the industry to consolidate through acquisitions.

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