Topic: Q2 Bitcoin Close -56% - page 2. (Read 218 times)

ImThour

copper member

Activity: 1470

Merit: 1609

Bitcoin Bottom was at $15.4k

I voted for a similar one because a closing below 200 MA is really interesting in terms of monthly and weekly, both.
June 2022 is the month in the history of Bitcoin to lose the highest % of the price, which does bring some relief for the short term but doesn't change the long-term perspective or EOY perspective for most of the traders.

We can only speculate, reality will hit us within 2 quarters. Roll Eyes

dragonvslinux

legendary

Activity: 1722

Merit: 2213

Current look at Bitcoin 3 Month chart. Worst Quarter since Q3 2011 with -56%. Price closed just above the 20 MA @ $18,840 (60 Month MA or 5 Year MA). No wonder so many people are bearish right now...

However based on this moving average Bitcoin remains in a long-term uptrend. It was the closest % close to this MA in Bitcoin's history, but otherwise closed above it and just under $20K. Many will think this is pure hopium I imagine, but until this MA is broken, then currently price is in no worse situation than it was in March 2020 when it was previously at a 5 Year average.

Many are still waiting for $10K to $14K prices, which I can understand based on how bearish the market and economic environment currently is. I also think it'll happen if $17.5K is broken.

But what happens if those prices never arrive?

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