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Added: June 9, 2021
The price of Bitcoin has been fluctuating between $32k-40 over the past few weeks after the crypto crash. Read on for Bitcoin price prediction for June 2021.
Over the past few weeks, the Bitcoin price has been fluctuating quite a bit, more so on the lower side. Ever since the major crypto crash on May 19, when the price of Bitcoin went down close to $30k, Bitcoin’s price has been fluctuating between $32k-40k. So why has Bitcoin and the whole of crypto markets behaving so irrationally as of late? In this article we’ll take a look at why is Bitcoin going down and Bitcoin price prediction for June 2021.
Bitcoin Price Prediction
Making crypto price predictions can be difficult, especially Bitcoin price prediction, as Bitcoin’s chart movements essentially influence the whole crypto market. However, many crypto experts have given price predictions for Bitcoin. The Economy Forecast Agency predicts that the price of Bitcoin could go up to to $39,428 in June 2021. Previsioni Bitcoin predicts that the price of Bitcoin could go up to $48,605 by the end of June or July. Christopher Brown of Faith Finance predicts that Bitcoin could potentially get back to its all-time high price in June if the market is favourable. However, this is all speculation, and Bitcoin price predictions should be taken with a grain of salt.
Why is Bitcoin going down?
Over the past few weeks, since May 19, a lot of negative news about crypto has been emerging from around the world. Starting with Elon Musk’s announcement on Twitter that Tesla would stop accepting Bitcoin as payments, which lead to around a 10 per cent fall in the price of Bitcoin overnight. On May 19, Bitcoin further fell down to 30k, after China reinforced their bans on cryptocurrencies. Since then, the price of Bitcoin fluctuated quite a bit and went down a couple of days as Donald Trump said in an interview that he believes Bitcoin to be a scam. Stay tuned for more updates on cryptocurrencies.