Bitcoin records its worst month in 4 years

Meanwhile, the digital asset holding giant 'Strateg' helped soothe some investor concerns on Monday. The company announced that it had raised more than $1 billion with the aim of increasing its cash reserves, rather than purchasing additional Bitcoin – What was perceived as a sign of reassurance regarding the company's liquidity and its ability to distribute dividends. Ed Engel, an analyst at Compass Point, commented on the move and said that crypto cycles historically end in a spectacular crash, and that the company had been marked as the leading candidate for the market "bears". Engel added that the current cycle was not accompanied by a significant insolvency related to leverage or fraud, and that most of the leverage that was eliminated remained confined within decentralized markets without spilling over into the broader crypto industry.