Over the past few months, the crypto market witnessed a severe downfall, marking the year’s lowest in mid-June. The king of all cryptos’ Bitcoin, also could not evade the effects of the crash and touched its 2022 low of $17,700 on 20 June. However, since the last negative growth, BTC has gained an uptrend and […]
Over the past few months, the crypto market witnessed a severe downfall, marking the year’s lowest in mid-June. The king of all cryptos’ Bitcoin, also could not evade the effects of the crash and touched its 2022 low of $17,700 on 20 June.
Notably, at the time of writing, BTC traded slightly lower at $23,958 with a market capitalization of $458,062,265,258.In June, BTC hovered near the psychological level of $19,000 for a few weeks, and then an uptrend began. Along with the increase in its price, a surge in BTC’s percent supply in profit was noted as the metric reached a 3-month high of 62.03% on 12 August.
At the time of writing, the maximum capacity of the Lightning Network was 4,560 BTC. As per Glassnode’s data, a considerable increase was registered in the network’s total capacity despite the crypto winter.All the aforementioned developments give an indication that BTC’s performance over the last few months has been better than the first quarter of 2022.
Furthermore, he stated that not only Bitcoin but also several other crypto companies will go out of business in the near future.While looking at the BTC’s chart, the largest crypto in the world showed support and resistance at $19,000 and $22,200, respectively.
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