Bitcoin’s struggles continue as we head into June 2022. On May 11, in an article on Barchart, I wrote, “Risk-reward favors a prudent approach, but it is much better at current prices on May 11 than those seen in November 2021.” On May 11, Bitcoin was at the $31,217.62 level. On May 31, the leading cryptocurrency was at around $31,700, 1.55% higher. Bitcoin’s performance has been disappointing for the investors holding the tokens. After fantastic gains of 303.2% in 2020 and 57.81% in 2021. Bitcoin has declined by over 38% since the end of last year. This year, Bitcoin has underperformed the stock market’s top loser, the tech-heavy NASDAQ. All tech, including fintech, has been under siege.
Bitcoin and the cryptocurrency asset class remain in a bearish funk at the end of May. Devotees believe the price action is an opportunity and detractors feel vindicated for their criticisms.
An ugly trend in Bitcoin
On November 10, 2021, Bitcoin and Ethereum put in a pair of bearish key reversal...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...