The Crypto market has continued to see heavy losses with the prices of various cryptocurrencies tanking further down. As a result of that, investors have become increasingly worried. Coupled with the high inflation and increase of the Federal Reserve rate. Some analysts have also predicted that the price of bitcoin price could go even lower, stating that we may not have seen the bottom just yet.

Bitcoin (BTC) was down by over 37.3% in June – which is the biggest monthly price drop that has occurred since 2011, in an epic market sell-off that triggered the reduction of employees across the crypto industry as many centralized exchanges were forced to lay off a good number of their staffs and lenders, including Celsius, had to halt withdrawals on their platform and scramble to line up financial lifelines.
The largest cryptocurrency by market capitalization ended the month of June at the price of $19,925.

Jeff Dorman, the chief investment officer at the digital-asset manager Arca Funds said in a statement that “This was one of the worst quarters on record as the losses cut across as assets classes including the equity market and Bond market.

Investors also fear the steep U.S. Federal Reserve interest rate as it is believed that the hikes were a key catalyst in the price plunge of Bitcoin as the Labor Department released a report on the consumer price index (CPI) in June, which is the most widely tracked benchmark for inflation. The CPI showed that inflation rose by 8.6% on a year-over-year basis in May, the fastest in four decades.

While a few analysts have predicted further lower prices in Bitcoin, a lot of investors believe that after this whole meltdown, we would see new All-time highs in the prices of these digital currencies as that has always been the case.

Some investors are also making use of this opportunity to add to their bags as it is always favorable to buy low at such discount prices currently seen in the market.

Featured image source: Fortune