Bitcoin and Ether head for worst second-quarter on record for the world’s No. 1 and 2 crypto

Bitcoin’s and Ether’s second quarter performance is becoming one for the history books.

At least in the relatively thin annals of the world’s most famous cryptocurrency, which, according to Dow Jones Market Data, had its worst performance in the second quarter of its history on the records of 2010.

Bitcoin
BTCUSD,
-3.65%

was developed around 2009 by a person or individuals known as Satoshi Nakamoto and has been one of the more volatile assets in their brief existence. ether
ETHUSD,
+1.29%

on the Ethereum blockchain was founded in 2015 by a group that also includes Vitalik Buterin.

But what started out as a stellar 2021 for Bitcoin has turned out to be anything but crypto, which is down 41.98% in the second quarter on its most recent review.

Meanwhile, Ether is looking at its weakest second quarter after a brilliant start to the year. However, Ether is still well on its way to its best first half since 2017, showing an increase of around 185%.

For the first half of the year, Bitcoin is looking at its weakest performance in the first half since 2018.

On Wednesday lunchtime, Bitcoin changed hands at $ 34,324, down over 5% for the day, while Ether changed hands, 5% to $ 2,118.34. Bitcoin had enjoyed a gain of over 100% before a slump in mid-April.

Meanwhile, stock markets have posted strong returns for the quarter as the economy rebounds from COVID-19 lockdowns and stay-at-home logs.

The Dow Jones Industrial Average
DJIA,
+ 0.55%

rose over 4% in the second quarter and is on track for fifth consecutive quarterly profit. The S&P 500
SPX,
+ 0.07%

expected a quarterly increase of more than 8%, and the Nasdaq Composite
COMP,
-0.12%

rose 9.5%, which would represent the best quarterly performance for either index since the fourth quarter of last year, when the economy rebounded from the coronavirus pandemic.

Dogecoin
DOGEUSD,
-4.61%

rose 380% in the second quarter, but that pales in comparison to its return of 980% in the first three months of 2021. The 2013 meme coin changed hands at 24.3 cents and was headed for a profit of over 5,000 in the first Half-year at%, however. The asset is far from its early May high of 74.07 cents.

A crackdown in China that banned Bitcoin mining activities and trading has been blamed in part for the recent slump in crypto.

—Ken Jimenez and Abhirami Shrinivas contributed to this article

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