This Was BTC's 3rd Best Quarterly Close Ever

Despite the volatility and global political nuttiness, bitcoin was strong

Happy Thursday, Blockfolians!

The Lede

Yup, you read that headline right. After that massive crash down on Black Thursday, Bitcoin had a hell of a Q2.

Data from Skew shows that (in part due to the ratcheting down around the crash), bitcoin was up 42% on the quarter.

In general, we don’t advocate for worrying too much about short term price fluctuations (and while it may not feel like it, in the grand scheme of things, a quarter counts as ‘short term’).

But in this case, the bounce back - which happened with no bitcoin central bank to prop up prices - demonstrates (again) the type of resilience that gets investors off the fence.

One other note: China seems to be going after crypto trading a little more aggressively…something to keep an eye on.

With tomorrow being the official observed holiday for July 4th, this is our last edition for this week. Hope you have a great long weekend everyone!

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That’s the increase in BlockFi’s revenue due to post-Halving user growth - a great indicator

Final Thought

Some serious progress in UK crypto adoption!