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Finance
Bitcoin's Price Tumbled 18% in June. Here's Why It's Still a Buy This Summer.
If history is any guide, Bitcoin could be in recovery mode by the end of this year.
By all accounts, June was one of the worst months in recent memory for crypto investors. Bitcoin(CRYPTO: BTC) fell 18% in June, briefly dipping below the $60,000 price level. Moreover, spot Bitcoin ETF outflows reached record levels as investors headed for the exits.
But I'm still loading up on Bitcoin this summer. Here's why I'm taking a contrarian approach.
Details
I'm more convinced than ever of the validity of the Bitcoin four-year cycle. If there's one defining feature of Bitcoin, it's that it typically trades in four-year cycles of boom and bust. In large part, this is due to the much-anticipated Bitcoin halving, which occurs every four years.
Capital Daily covers markets, crypto and commodities for Asia & the Middle East — tier-1 desk research, AI-driven analysis, institutional-grade data. Tip our newsroom: [email protected]
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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