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So Far This Year
Jan-Jul Recap
Bitcoin opened 2022 at $46,311.74.
Since then, it’s down 50%, closing July at $23,336.90. Despite the downward volatility this year though, bitcoin bounced last month, rallying 15% in July.
$20k Support?
$30,000 support failed at the end of May. As a cascade of bad news struck the crypto markets, bitcoin tumbled (so did traditional markets). It landed near $20k.
$20,000 is now the number to watch. The price represents the previous market cycle high and it could be the place where bitcoin has settled after sifting through the remnants of a euphoric 2021.
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