Price analysis 6/1: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB
Cointelegraph
Published Jun 01, 2022 02:44PM ET
Updated Jun 01, 2022 06:20PM ET
Bitcoin (BTC) has made a tentative start to the month of June, suggesting that bears have not gone into hibernation just yet. Although Bitcoin is trading nearly 55% off its all-time high of $69,000, whales and institutions remain cautious and have not jumped into the market with gusto, according to BlockTrends analyst Caue Oliveira.
According to CryptoQuant contributor Venturefounder, if Bitcoin repeats the historical patterns seen after the previous halving cycles, then a bottom may be formed between $14,000 and $21,000 in the next six months. Thereafter, Bitcoin may chop around the $28,000 to $40,000 range for a large part of the next year and be around $40,000 during the halving.
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Written By: Cointelegraph
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