Down 57%, Has Bitcoin Finally Bottomed?
Down by a jaw-dropping 58% in 2022, Bitcoin is in a bear market. The pressure probably won't ease anytime soon, either, with liquidity drying up in the economy and public confidence in crypto falling to unprecedented lows. That said, Bitcoin still looks like a long-term winner, and investors should start looking for the bottom of this current decline.
Far from an uncorrelated safe haven against the mainstream economy, Bitcoin has closely tracked financial markets like the NASDAQ Composite, which is down 30% year-to-date. The similar performance between these different asset classes suggests they are influenced by some of the same macroeconomic forces, like inflation and monetary policy.
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Source Fool.com
