Bitcoin is dead after a brief moment of hope

Once again cryptocurrency Bitcoin is unable to get out of a rut. What is wrong with the crypto currency?

We are now six months into 2022. So halfway there. For now, it is a year to forget when it comes to Bitcoin. That is, if you were hoping for increases and new records. For the time being, it is a year of serving, possibly increasing your position and settling for red numbers.

Cryptocurrency Bitcoin Rocks

Last week saw a green light after a period of weeks of declines. From May 29, a climb was started and Bitcoin managed to rise by more than five percent in a day. Normally not very special, but because of that long period of declines, this was seen as finally something different.

The month of May was therefore still closed in green. June arrived yesterday and immediately the tone was set. Recovery was not long. Bitcoin has fallen again. However, not yet at the level before the increase. Back then, BTC was worth over $28,000 on Coindesk. At the time of writing, it fluctuates between $29,000 and $30,000.

In short, there is damage, but not as great as in the period before the increase. Of course it means nothing. Once there is no support at this level, Bitcoin can sink further and the cryptocurrency is back to square one.