Bitcoin and Ethereum languish after worst quarter in 11 years for crypto

As the third quarter began, Bitcoin and Ethereum languished in the vicinity of key support levels as investors remained side-lined following an up-and-down few weeks, with so-called bargain prices tempting very few.

Bitcoin edged cautiously lower by 0.2% to US$19,389 in early trade, while its largest rival by market value, Ethereum, was changing hands 0.8% lower at US$1,053.

It seems as if most investors that are still in on the two top coins are HODLers (hold on for dear life), as they pray the prices have hit bottom, analysts said.

In fact, the second quarter of 2022 was the worst quarter for cryptocurrencies in 11 years, with Bitcoin down over 55% in that period.

Bitcoin has been floating around the US$20,000 support level for over two weeks, with Ethereum much the same at US$1,000.