Crypto Update: How Is Bitcoin Now?


If there were to be an alternative name for Bitcoin and other cryptocurrencies, it probably would be volatility. The seesaw between rising and crashing for the leading crypto coupled with sentiments and rumors make the market extremely volatile. 

Regardless of this volatility, investors are always looking for opportunities to make money in this market. New investors particularly find the volatility intriguing. While this volatility should define this market and Bitcoin now and in the future, a Bitcoin forecast is necessary because it can help determine the best time to venture into the market. 

Crypto Market Experiencing a Historic Pivotal Moment 

Cryptocurrency market stakeholders are holding their breath as they wait to see the direction the prices of Bitcoin and other digital coins will take. Since there are macroeconomic elements at play, the whole industry is at crossroads. It is a historic pivotal moment where a big question is lingering. In short, will the crypto market reach a turning point in July 2022? 

Since November 2021, the crypto market has been on a free fall. It is now 40% lower compared to that month. A lot of the developments leading to this poor performance can be attributed to the intention of the US Federal Reserve (Fed) to terminate the quantitative easing program. The macroeconomic impacts that followed have prevailed and even forced some investors to leave the scene. 

How is Bitcoin now? Is it still promising? 

Like the other cryptocurrencies, Bitcoin’s price has been falling in response to market turbulence. As of preparing this article, the price of the digital coin was still below $20,000, which is more than 30% less than one month ago. Looking at the stats for one year ago, the drop is in the region of 60%! 

However, analysis shows an optimistic momentum is soon coming and investors who wait long enough will reap the benefits. 

One thing remains consistent about Bitcoin and other digital coins: They are volatile. Similar to high-yield bonds and stocks, Bitcoin is a high-risk asset because its price can increase and reduce without warning and for virtually any market dynamic. 

Bitcoin may have been considered immune to fluctuations hitherto, but that has changed with the current status. Monetary policies and inflation are impacting the price of Bitcoin now. But should this raise fear among investors? 

Not at all. Bear markets operate like that, and that is what experienced investors know well. The price of Bitcoin fell by over 80% sometimes between 2017 and 2018? Later, major companies such as PayPal and Fidelity came in. Emerging Bitcoin traders need to know that even though the market may appear pointless at some point, it pays to be immune to pressure and stick to the coin over time. 

Indeed, this might be the best time to buy Bitcoin when it is at a low. Considering that interest rates have eventually been raised, the price can only rise from here. It may surprise many that even at a price of around $19,000, many of the addresses continue to be profitable. Experts have also shown that Bitcoin’s rock bottom is usually 80%, and it appears we are already there. 

The Recent Bitcoin Forecast 

Every trader is now hoping that Bitcoin will bounce back soon. According to forecasts, the digital coin should gain ground this month, especially with the uncertainty of interest rates out of the way. But there is still uncertainty on the macro-outlook front as the third quarter of 2022 settles in.               

It is possible to draw context from the past, but there may be only a little or no change for Bitcoin until there is a macro environment adjustment. The coin’s direct correlation to the equity market and inverse proportionality to interest wouldn’t be good news to any investor at this time. 

As an investor, perhaps one should remain patient a little more and observe the direction Bitcoin will take. 

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