@BOMBERuss 1 July 2022 more from that month

In the second quarter of 2022, the price of #bitcoin fell from $45 thousand to $19 thousand. The first cryptocurrency lost 56% of its value — this is the worst result in the last 11 years, since 2011. The price of #Ethereum has dropped by almost 70% over the past three months, this happened for the first time in the history of the largest altcoin by #capitalization. The crisis of the cryptocurrency market has led to massive cuts in many large companies, and crypto lending platforms have been threatened with bankruptcy. Mining companies faced difficulties due to falling profitability and began selling mined bitcoins to pay their operating expenses and cover loans. Now the price of bitcoin is largely correlated with what is happening on the American stock market, says CEO of the #Sigmapool #mining pool Jahon Habilov. There is a noticeable decrease in the indices of traditional assets by double-digit percentages, the expert says. He noted that bitcoin has been losing 57.3% since the beginning of the year, and this is more than the S&P 500 (-20.6%). According to the expert, those who bought shares of companies such as #PayPal (-64.2%), #Netflix (-70.7%) and #Shopify (-77.1%) suffered more losses. Even classic portfolio strategies in the United States are now showing the worst result since the global financial crisis of 2008, Khabilov stressed. Bitcoin has never experienced such strong pressure from external factors as it is now, says Dmitry Machikhin, CEO of #Bitnalog. He suggested that in the lll quarter there will be a certain rally of #cryptocurrencies as a rebound, then the decline will continue and a long consolidation will begin in search of the real "bottom" of this "crypto-winter". "All external factors contribute to the continued decline of bitcoin and other digital assets. At the end of this global decline cycle, we can see the bottom of bitcoin in the region of $ 6-10 thousand and $ 250-400 per ether," the expert suggested. Technically, there are no signs of a trend reversal, the CEO of Bitnalog believes. According to him, from the point of view of macro prospects, a change in the trend for bitcoin is possible only after the change of the rhetoric of the US Federal Reserve to a more friendly one towards stock markets. For this, in turn, inflation should normalize, and the economy as a whole should stabilize, Machikhin believes. Most likely, Wall Street will not "revive" in the third quarter, which means that the price of bitcoin will not show growth in the summer and early autumn, agreed CEO of the #Sigmapool mining pool Jahon Habilov. He clarified that a lot will depend on global geopolitics, commodity prices and the results of the US congressional elections in early November. "In many ways, long-term investors are focused on 2024, when the next halving of bitcoin will occur. The event is traditional, but it is almost guaranteed that after that the bitcoin price will update its historical highs. This, at least, happened earlier in the history of the oldest #cryptocurrency." — Khabilov is sure.