Bitcoin price was performed strongly in May, when he jumped to a record level of $ 111,900. At its highest point, it rose by more than 50 % of its lowest point in April, when Donald Trump revealed his revenge definition. These BTC expectations are considered what to expect in June.
Bitcoin summary for the month of May
May was a good month for Bitcoin in some areas. First, the Wall Street investors continued to pump the BTC money during the month. The net flows jumped to the instant bitcoin boxes by more than 5.2 billion dollars, while the total value that was circulated during the month jumped to more than 73 billion dollars.
May has been the best month for Bitcoin since January, when net flows jumped by $ 5.25 billion. The increase in cumulative flows raised more than $ 45 billion, making Bitcoin the most successful in the investment funds circulated ever.
For example, ISHares Bitcoin ETF (IBIT) now has more than $ 70 billion of management assets, 18 months after its launch. In contrast, SPDR Gold Shares Etf (GLD) has less than $ 100 billion of assets, 21 years since its launch.
The other big topic in May was the continued bitcoin purchases by companies, a step that can accelerate after the purchases of the strategy. The strategy, previously known as Microstrategy, has acquired thousands of coins, thus reaching more than 580,235.
Twenty, a company formed between Cantor Fitzgerland, Tether and Softbank, gets Bitcoins worth more than $ 3 billion. It plans for the public brand as a bitcoin holding company.
Trump Media, the parent company for Factsocial, raised $ 2.5 billion to acquire Bitcoin. Gamestop, the Games Store Company, started assembling Bitcoin as we recommended a few months ago.
The other Bigcoin Big news in May was the main events such as the consensus of Toronto and Taken2049 in Dubai.
BTC price analysis for the month of June
Bitcoin is likely to continue to achieve a good performance in June due to the high demand and low supply. Bitcoin supplies on stock exchanges continued to decline, moving from more than 3.1 million in 2020 to 1.2 million today.
More companies may continue to get Bitcoins this month, which will help enhance their price.
However, the danger is that June is usually one of the worst months for Bitcoin due to the start of the summer season. The average Bitcoin returns in June is usually minus 0.50 %.
Other risks are that the trade war between the United States and other countries will continue, which leads to more fluctuations. Also, the Federal Reserve may insist that it will not reduce prices soon when inflation remains high.
Bitcoin price analysis
The technologies indicate that the BTC price has more upward trend to go this month as it formed a cup of cup and equation, as the continuous decline was part of the handle section. The depth of this cup is about 32 %, which means that the target price is about 143,000 dollars.
Bitcoin is still higher than the 50 -day and 200 -day moving averages (EMA). Therefore, the most likely scenario is where the BTC price rises and reaches at least $ 120,000 this month. The decrease in support at $ 100,000 will nullify the upcoming expectations.
Post -Bitcoin predictions for June: Will BTC rise or decrease in June? First appeared on Invezz
