With just a few days left in this June 2021 and the second quarter of the year, Bitcoin and the cryptocurrency market will have suffered greatly. However, we quickly see here that while the correction is strong, the bullish madness that preceded it was much stronger still.
Strong quarterly decline, but strong annual uptrend for Bitcoin
An oft-mentioned saying in the stock market community is “trees never climb to the sky,” as assets can’t go up forever, or at least never in a straight line.
While we in the crypto community hope that our beloved digital assets can one day go “To the Moon”, if it does eventually come to pass, it will not be a non-stop journey in any case.
So, as mentioned in a tweet by data aggregator site Skew, the second quarter of 2021 is shaping up to be one of the worst for the bitcoin (BTC) price.
With nearly 46% drop in the crypto king’s price from the previous quarter’s closing price, hardly anyone but the bursting of Bitcoin’s last bull run in the first quarter of 2018 could be so blood red – with as much as a 50% drop at the time.
Prior to this last quarter, however, it should be noted that BTC had chained 4 quarters of continuous increase, including the 2 penultimate ones that even exceeded 100% increase.
In the end, if we take a step back and look over a year: since June 2020, the value of bitcoin has appreciated by more than 200%, even at current prices. The road to the finish line is never as easy as one would hope. It will often take more patience and endurance. And the most important thing will be to stay on course (HODL) to get there.
