 Bitcoin literally just had the worst month ever in the entire history of Bitcoin. If you look back through the history of Bitcoin's price on the monthly charts, you will see that Bitcoin of course had bad months, but never won as bad as this one. If that's not bad enough, Bitcoin also had its worst quarter ever. Even worse than that infamous 2018 first quarter. If you're not working at McDonald's by now, then you might want to start applying crypto bros. So how exactly did we get here? Is the worst of it over? And where do we go from here? We're going to answer all these questions and more. Let's dive right into today's video. What's up guys? Jay here and welcome to Bitcoin Daily. The goal of this channel is to empower you guys with the knowledge and resources to get you to that next level. So make sure to subscribe, like, and comment on this video as we continue to spread crypto adoption to the masses. So this is a pretty crazy chart to look at. We can see that June was pretty much one of the worst months that Bitcoin has ever had since all the way back, going all the way back to 2011. That's pretty much the most history that we have of the price being tracked for Bitcoin. So if we look back, we can see that in 2011, we definitely had some bad months there. We actually had three months in a row here of minus 38%, minus 37%, and minus 37%. So that in itself is probably the worst three months back to back to back ever. After that, we had a pretty nice bull run all the way up to 2014 pretty much where we saw a minus 38% pullback. And we saw another one at the end of 2014 heading into 2015. Then we pretty much jumped back into a bull run. And of course, 2017, who can forget that amazing run up to 20K before then jumping into 2018 when we had another bear market. During 2018 and 2019, we had a 27%, a minus 32%, a minus 37%. Then we started running right back up until of course, March of 2020, when we had the whole pandemic stuff come in. And then they just started printing a whole bunch of money. And the month ended up closing out pretty bullish. And it was only a minus 24% on that month. But you can see that candle would have probably been the worst candle monthly candle ever, if the government didn't step in and start printing money with all the money printing plus the Bitcoin halving that happened in 2020, that put us right into a bull market and took us all the way up to $69,000. Then in May, April of last year, we had the China fud. We had Tesla pull out of Bitcoin accepting Bitcoin pretty much. And we got a minus 35% candle there last spring summer. And now here we are back again once again, right? Minus 40%. Pretty much one of the worst months ever. Now we did end up closing a little bit higher than this price right here where this picture was taken. But still, it puts it on par pretty much with all of these worst closes and worst months ever in the history of Bitcoin. So now the question becomes, is this the start of the bear market or did we start the bear market last year in 2021? So that becomes an interesting question because one thing that I noticed throughout every single bear market was that one of the first beginning candles was really big. And then we had another really big ending candle basically before the direction changed. And once again, back in 2014 and 15, we see that we started off with a big minus 38% candle. We pretty much finished it off with another minus 33% candle consolidated basically for most of 2015 and then slowly started rising back up. 2018 pretty much the same thing. We had a minus 27% in the beginning and a minus 32% before pretty much closing off that bear market with a minus 37% candle consolidated for about four months and then started a move back up. The pandemic was a black swan event. So I'm not really counting that into it, but we're pretty much in a bull cycle all throughout 2020 until May of 2021, which is when we got that minus 35% candle. So now the question becomes, was that the actual beginning of the bear market and was this the flushing and the bottoming out of the bear market where now we can possibly consolidate for the next four or five, six months before maybe beginning a move back towards the upside. That's what we've had pretty much seen at the end of every single bear market where we kind of bottom out and consolidate for a while before eventually moving back up. Again, a bunch of consolidation pretty much for the entire year. And then we started moving back up in the quarter four after this drop consolidation for about five months. And we started moving back up. So could we see consolidation here for pretty much the rest of the year and maybe towards quarter four, the beginning of quarter one, start seeing those prices get back up to 30, 40, $50,000. It is definitely a possibility, but we have to also consider the outside factors that are also affecting the crypto space. The next thing I want to look at is the end of the quarter here in quarter to we ended up basically having the worst quarter that we've ever had in Bitcoin down pretty much about minus 56% for the quarter. This was worse than the minus 50% back in 2018. So let's kind of take a look at what happened after each of these really big bad quarters. So in 2014, after a minus 38%, we had basically a bounce back and then we had another big drop. Pretty much lost everything that it gained in quarter to there and had three bad quarters in a row basically before it started to climb back up throughout 2015 and 16. Finally, 2017, it officially began that next bull cycle where we had an incredible run, which then lost half its value in 2018's first quarter quarter four of 2018 was that next big red candle that basically was the bottom consolidated throughout the first quarter of 2019 had a huge jump in the second quarter then pretty much retrace throughout quarters three and four quarter one of 2020 was of course the pandemic time while we had a big drop that was basically bought right back up because of course the Fed started printing money which led to the next bull cycle where we had four quarters in a row of just crazy gains right then quarter two we had the big 40% drop what feels like the next three quarters just kind of consolidation right we went up 25% quarter three up 5% quarter four down 2% this year in quarter one and then the big drop again now in quarter two so again the question becomes are we just getting into this bear market or did we actually start the bear market in quarter two of last year where quarters three four and quarter one from this year was just consolidation and we can possibly see something like that for the next two quarters during 2018's bear market that's pretty much what we saw we had a minus 50% drop in quarter one then quarters two and three was pretty much just consolidation right quarter four boom bottomed out flushed out that bottom quarter one in 2019 was a consolidation period pretty much and then quarter two we had 163% run up quarters three and four it was like no this is not a bull market yet we're just kidding and pretty much after the pandemic in quarter one of 2020 that's when we really went into that bull market so again i'm trying to piece together a puzzle right i'm looking back in history taking that data that historical data and historical information what happened in the past and trying to piece it together to try to figure out what's going to happen next so what we're looking for here is confluence we want to see different things tell the same story different tools different data then we can make the best possible highest probability decision going forward in the future so the next chart we're going to look at here is this one that is basically a weekly chart with a 200 weekly moving average the reason we're looking at this one is because you can see that it has been a very important area within the price of bitcoin back in 2015 we bounced off of it back in 2018 we bounced off of it during the pandemic drop we bounced off of it and now we're basically here again now the only difference is that we've had multiple closing weeks below the 200 week moving average which never happened in the past but overall it is showing us that this potentially could be a buying opportunity this could be a possible bottom for the price of bitcoin during this bear market not saying that we're going to just bounce right back up because look how long most of these took before it bounced back out of there for the most part these were at least two to three months so we might be consolidating in this range for a while so how exactly have we gotten to this point so a lot of it probably started with inflation plus the war in russia in ukraine i know a lot of people say that it's an excuse but it's the reality the war in ukraine has directly affected the crypto prices and the stock market prices inflation has done the same things directly affected the stock market and crypto so with the prices of everything falling and with inflation going up the fed jumps in and decides to start raising interest rates and again this affects the markets in a bad way so if all of that wasn't bad enough it started opening up vulnerabilities within crypto platforms and it all started with luna the dpeg from luna's ust directly impacted the entire crypto market market manipulators and bad actors launched an attack against ust and luna and dpegged its stablecoin so remember a stablecoin is supposed to stay stable at one dollar ust dropped below 40 cents that of course caused a panic sell-off and luna's price dropped from over 80 dollars all the way down below one penny in a matter of days this alone caused a drop of about 34 percent in bitcoin's price before this happened bitcoin was sitting around 38 to 42 thousand dollars once this happened bitcoin went as low as 25 thousand dollars the lowest price that bitcoin had seen since 2020 and that was pretty much the first domino to fall the next dominoes were lending platform celsius suspended withdrawals so users could no longer take their money out and pretty much for all of last month there were just rumblings about potential bankruptcies then three arrows was the next big player and they did end up falling for bankruptcy block five was another one that was on the brink of going under before ftx aka sam aka the crypto jesus saved them and basically bailed them out as prices kept dropping and dropping crypto companies began to cut jobs another lending platform voled suspended transactions potentially looking to file for bankruptcy then voyager digital also suspended all trading withdrawals and deposits and then eventually falling for bankruptcy the sec rejected another bitcoin etf the federal reserve raised interest rates by 0.75 percent in june and it looks like they're going to do it again now in july did i mention that covid is out there there's still a war as well and the stock market is doing just as bad being down over 20 percent i mean just look at the first half performance of all these stocks ranging anywhere between minus 23 to minus 80 percent look at bitcoin right in the middle it's not even the worst one so is the worst of it over to be honest that's a difficult question to answer as much as i want to believe that the worst of it is over and that this is the bottom of the bitcoin price it's difficult to ignore that we're literally hanging on by a thread here if we lose this current level there's really nothing in this big gap that's going to be able to really hold up the price of bitcoin and we could potentially fall down here to this box right here that's anywhere between 14 to 10 000 that would pretty much be the next support for bitcoin we're still dealing with high interest rates in june it was 8.6 percent next week we will be getting the cpi inflation numbers again and then at the end of the month we will be getting another interest rate hike so depending on what happens with one the inflation rate numbers when they come in and two what that rate hike is is probably going to determine how this month in particular is going to go now i think a lot of the numbers have already probably been priced in but if the cpi numbers come beyond the forecast again like last month that is not going to be good we should see a drop in prices and if the fed decides to hike rates higher than that 0.75 range that will also affect prices in a bad way so first we gotta wait for the cpi numbers then we'll have an idea of what the fed might do which pretty much gives us an idea of how this month is going to turn out after this we have no more rate hikes for a few months so it might give us a little bit of room to breathe and maybe you know consolidate towards the upside for a little bit so what am i personally doing right now i am buying the out of every dip i've been buying weekly plus every single dip that i see in the market i have been adding to my positions and i will continue to do so doesn't matter how low the price goes if you guys want to know exactly what it is that i'm doing what my exact strategy is what exactly i am buying i recommend that you watch this video right here which is my bear market strategy video i show and break down exactly what i did the past two bear markets that basically allowed me to retire back in 2017 and do this pretty much full time now with all that being said we are still trading and making money every single day in this bear market you can make money in a bear market the same way that you can during a bull market if you guys want to know the exact trades that i'm taking every single day in real time with the exact setups that you need to join my mentorship trading program in this group i share every single trade that i take with my complete trading plan entry stop loss take profit all of it we teach you how to trade the right way using the right amount of leverage with the proper position sizing and risk management so you never have to worry about blowing up your account again in addition to that i also post about crypto passive income opportunities and i'm even working on a new crypto bot that is currently up almost 100 year to date and this will be completely hands off now there are limited spots because there's so many that want to get in but i can only work with so many at once so if you guys are interested go to the link in the description below i'm telling you guys crypto is a once in a lifetime once in a generation opportunity and although you get rich during the bull markets during the bear markets is where you build those positions in order to get rich these opportunities will not last forever so please if you guys are interested make sure to sign up in the description below if not then i highly recommend that you watch the next two videos that come up on the screen because those are the videos that youtube thinks you should watch next thank you guys so much for watching as always peace and love