Bitcoin Hovers Around 20K; Will It Recover?

Bitcoin Hovers Around 20K; Will It Recover?

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Bitcoin Hovers Around 20K; Will It Recover?

CoinGapea month ago
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Published on July 05, 2022 15:17 GMT+00:00edited on July 06, 2022 13:04 GMT+00:00

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The world’s largest cryptocurrency, Bitcoin’s (BTC) price has registered a drop of around 56% in the second quarter of 2022. This has been recorded as the worst drop over the last 11 years.

Bitcoin registers 2nd worst quarter

According to Arcane Research, the unfavorable macroeconomic outlook has affected the global crypto market. However, it is not over yet as another lending firm went on to suspend trading service this week. Meanwhile, Bitcoin recorded the 2nd worst performance in its history quarterly wise.

BTC prices have dropped by 2% in the last 24 hours. It is trading at an average price of $19,369, at the press time. Bitcoin has been hovering around the $20k price level. However, it lost a crucial level over the last week. Somehow, BTC got registered a small rally at the end of …