The Monthly Report
The Monthly Report is sent to premium subscribers of the newsletter. I break down what’s happened so far this year, what happened in the last month, and what to watch in the month ahead. Subscribe if this was shared with you and thanks for reading Bitcoin Binge!
So Far This Year
Jan-Sept Recap
Bitcoin opened 2022 at $46,311.74. Since then, it’s down 58%, closing September at $19,431.79. Key $30,000 support failed at the end of May. By June, bitcoin was back at previous market cycle support near $20,000. Since then, it’s been an ongoing battle with $20k amid a tumultuous macro backdrop.
2022 has included:
lingering COVID fears
inflation
global energy crisis
supply chain shortages
September
September Recap
Bitcoin vs Macro
Bitcoin opened September at $20,050.50.
It closed the month at $19,431.79.
September was a surprisingly steady month for bitcoin given everything happening in the world. The month featured a ramp up of recession fears and more poor economic data our of Europe that is triggering speculation about a prolonged market downturn lasting well into 2023.