The cryptocurrency market has been in a slow decline since Bitcoin's price reached its all-time high in November, 2021, but now things have started to heat up - in a bad way.
The price of Bitcoin was in an overall steady decline for many months, from January to April, 2022 the Bitcoin's price bounced between $45,000 and $35,000. In May the world's most popular cryptocurrency experienced a mass sell off, driving the price from approximately $35,000 at the beginning of May to $26,000 by the beginning of June.
Now, June as been a bloodbath of red sell candles as the price plummeted a further 30%, to what seemed to be a support level at $20,000. Looking at some of the hourly trading metrics you can see swaths of Bitcoin being purchased at $20,000, but not enough to outpace the selling that was occurring. As of writing the price has since broken the lowest support the market has seen since December 2020, and is fluctuating at around $19,000.
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