Bitcoin fell by 40% in June - this is the worst indicator since 2011, when 1 BTC was worth $8
If the monthly candle of bitcoin closes at $19,000, it will mean that the main cryptocurrency has lost more than 40% in price in a month for the first time in eleven years.
The price of bitcoin has dropped below $19,000 amid another drop in the US stock market. According to the largest cryptocurrency exchange Binance, on June 30, the minimum price was fixed at $18,756.
1-DAY BITCOIN CHART. SOURCE: BINANCE
Bulls could not maintain the levels of either $20,000 or $19,000 due to the decline in the stock market - the S&P 500 and Nasdaq indices fell by 1.8% and 2.6%, respectively. At the same time, the US dollar strengthened. It has approached its twenty-year highs. The US dollar index (DXY) rose above 105.1 points, which is only 0.2 points away from its highest level since 2002.
Trader Faisal Khan (Faisal Khan) wrote on his Twitter: "The US dollar is going to test the highs that were last observed in December 2002 as a result of the fact that the downtrend was disrupted amid the continued decline of risky markets."
Meanwhile, the latest US inflation data showed that perhaps the worst is over, as they turned out to be better than in April this year.
The decline in the bitcoin exchange rate by more than 40% in one month means that this is the worst indicator since September 2011, according to the monitoring service Coinglass.
The last time such a drop in bitcoin was observed, when it was trading at $8.
https://coin-signal.com/cryptonews/bitcoin-fell-by-40-in-june-this-is-the-worst-indicator-since-2011-when-1-btc-was-worth-8/
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