Worst Quarterly Bitcoin Crash In A Decade Closes Above Key Support

Last week, when the June monthly candle came to a close in Bitcoin, it also signaled the end to the second quarter of the year and its first half. The top cryptocurrency suffered its worst quarterly decline since 2011, but it ultimately held above a key support level. Here is a closer look at the quarterly support level currently holding in BTCUSD and how it has put in nearly ever major bottom in the past. Bitcoin Crash Falls To Level Where Bear Markets Bottom Throughout the 2018 bear market, a primary narrative giving hope to bag holders, was the fact that institutions would eventually get into Bitcoin and it would make all the difference. Institutions did find their way into crypto eventually, leaving many of them at risk of insolvency. Larger institutions are known to take positions by quarter, and with two abysmal quarters in a row of performance in crypto, institutions could be ready to get back in. Related Reading | Bitcoin Monthly Tags Lower Bollinger Band, Tool’s Creator Hints At Bottom The recent selloff took Bitcoin price a lot lower than many would have expected – to the tune of more than 50%, making it the worst quarterly close in a decade. It also landed dead smack on the middle-Bollinger Band. BTCUSD quarterly closes above the middle-SMA | Source: BTCUSD on TradingView.com How To Read The Bollinger Bands And What Comes Next The Bollinger Bands are a volatility measuring tool, designed by John Boll...