{"id":281400,"date":"2021-06-23T05:01:20","date_gmt":"2021-06-23T02:01:20","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-heading-for-worst-quarter-since-start-of-2018-bear-market\/"},"modified":"2021-06-23T05:01:20","modified_gmt":"2021-06-23T02:01:20","slug":"bitcoin-heading-for-worst-quarter-since-start-of-2018-bear-market","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-heading-for-worst-quarter-since-start-of-2018-bear-market\/","title":{"rendered":"# Bitcoin heading for worst quarter since start of 2018 bear market"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4073ea7ad1c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4073ea7ad1c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-heading-for-worst-quarter-since-start-of-2018-bear-market\/#Big_guys_offloading_BTC\" >Big guys offloading BTC<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin heading for worst quarter since start of 2018 bear market <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDYvMjE1NDgwMTEtNjBlMC00ZjU0LTg0YjQtOGI3ZjZmZWE5ZmU5LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin is poised to post its worst-performing quarter since the start of the 2018 bear trend.<\/p>\n<p>The current quarter is also on track to be the second-worst on record for BTC ine almost eight years since the start of 2014.<\/p>\n<p>According to crypto data aggregator, Skew, Bitcoin is currently down nearly 46% for the quarter, the weakest quarter since Q1 2018 \u2014 when it shed <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roximately 50% of its value over just three months amid the fall-out from 2017\u2019s all-time highs.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#bitcoin<\/a> up 10% year-to-date but on track for worst quarter since Q1 2018 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/z3PpsAlIJK\">pic.twitter.com\/z3PpsAlIJK<\/a><\/p>\n<p>\u2014 skew (@skewdotcom) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/skewdotcom\/status\/1407271593215205379?ref_src=twsrc%5Etfw\">June 22, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Since the start of 2019, Q2 2021 is just the fourth quarter that has seen a drawdown for Bitcoin\u2019s value, with BTC\u2019s price falling roughly 10.6% during Q1 of 2020, 13.6% in Q4 2019, and 21.5% in Q3 2019.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Big_guys_offloading_BTC\"><\/span>Big guys offloading BTC<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>According to CoinShares\u2019 June 21 <em>Digital Asset Fund Flows<\/em> weekly report, institutional investors have continued to offload Bitcoin exposure for the sixth consecutive week, with BTC-tracking investment products experiencing $89 million in outflows over seven days.<\/p>\n<p>Overall, crypto investment products combined saw a third consecutive week of outflows, with investors removing $79 million from the sector last week. However, CoinShares notes that multi-asset products saw inflows of $10 million, followed by Polkadot with $1.2 million, and Ripple with $800,000.<\/p>\n<p>Institutions are not alone in reducing their Bitcoin exposure, with data from on-chain analytics provider, Glassnode, revealing OTC trading desks and miners are also offloading coins.<\/p>\n<p>According to Glassnode, the BTC holdings of OTC desks have dropped to their lowest level since March 2020, while miners have also been selling during recent weeks amid China\u2019s crackdown on Bitcoin mining.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> miners have increased their distribution throughout June, as the mining industry experiences the largest migration in history.<\/p>\n<p>Nevertheless, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> holdings on OTC desks has reached a new local low, last seen in March 2020.<\/p>\n<p>Read our analysis here<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/dRbQgKkwfh\">https:\/\/t.co\/dRbQgKkwfh<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/9MDXQfVB4l\">pic.twitter.com\/9MDXQfVB4l<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/glassnode\/status\/1407493893550002176?ref_src=twsrc%5Etfw\">June 23, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>But not everyone is capitulating, with popular Bitcoin podcaster, Anthony Pompliano, tweeting to his nearly one million followers that he is accumulating Bitcoin by dollar cost averaging regardless.<\/p>\n<p><strong><em>Related: <\/em><\/strong><em>Bitcoin drops below $30K to 6-month lows: Watch these next price support levels<\/em><\/p>\n<p>Pomp describes himself as \u201can atrocious trader who is guaranteed to lose,\u201d and acknowledges he has \u201cno clue where the price of Bitcoin is going in the short term,\u201d which is why the influencer emphasizes his long-term outlook for BTC.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">4\/ The dollar cost average strategy relies on the idea that &#8220;time in the market is more important than timing the market.&#8221;<\/p>\n<p>This has historically been true in bitcoin. The asset has an annual compound growth rate of over 100% throughout the last decade.<\/p>\n<p>\u2014 Pomp  (@APompliano) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/APompliano\/status\/1407318800366804996?ref_src=twsrc%5Etfw\">June 22, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Glassnode also notes that long-term holders<strong> <\/strong>\u2014 Bitcoin addresses that historically do not sell the coins they accumulate \u2014 have significantly increased their holdings since Bitcoin began retracing from its all-time highs in April.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">If you\u2019re scared, just remember what the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> long term holders are doing right now. Don&#8217;t let the vola flush you out, think long term.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/koCh7pfGf9\">https:\/\/t.co\/koCh7pfGf9<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/bAba8DUWo2\">pic.twitter.com\/bAba8DUWo2<\/a><\/p>\n<p>\u2014 Yann &amp; Jan (@Negentropic_) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Negentropic_\/status\/1407349014928969729?ref_src=twsrc%5Etfw\">June 22, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-heading-for-worst-quarter-since-start-of-2018-bear-market\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin heading for worst quarter since start of 2018 bear market &#8221; Bitcoin is poised to post its worst-performing quarter since the start of the 2018 bear trend. The current quarter is also on track to be the second-worst on record for BTC ine almost eight years since the start of 2014. According to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":281401,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDYvMjE1NDgwMTEtNjBlMC00ZjU0LTg0YjQtOGI3ZjZmZWE5ZmU5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74863],"class_list":["post-281400","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-cryptocurrencies"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/281400","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=281400"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/281400\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/281401"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=281400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=281400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=281400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}