The year 2022 has not started well for Bitcoin (BTC). We can say that Bitcoin had perhaps the worst January since January 2018. As it is known, Bitcoin has regressed to 33 thousand dollars in the past weeks. Along with this decline, many altcoins were also affected by this situation.
Bitcoin started the new year badly
We know that the leading cryptocurrency Bitcoin has a fluctuating structure. As you may remind, towards the end of 2021, there was a sudden decrease in the crypto money market. The effect of this decrease continued in January 2022.
The price of Bitcoin, which rose to $ 70,000 in November 2021, declined to $ 33 thousand in January. Bitcoin has had its worst start since January 2018.
If we look at the first month of 2022 in general, the majority of investors preferred to avoid exposure to risky assets such as Bitcoin and altcoins. Individual investors in general started to prefer safer options.
Experienced names in the industry, on the other hand, say that the 50 percent retracement that can be experienced in Bitcoin is actually not surprising. Finally, according to CoinMarketCap data during the writing of the Bitcoin news; It is traded at $ 38,288.
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