Bitcoin(BTC) Price Analysis June 2022

Bitcoin’s current price is around $20,770, with a low of $20,750 in a 1year timeframe, and has a market cap of $4.37 billion.

BTC Coin Market Analysis 

Bitcoin has fallen 25% over the past few days and has fallen to its lowest point in a year. It was at almost $70,000 in November.

Bitcoin has a maximum supply of 21 million coins, worth around $22,464.20 with a market volume at $58 billion and market capitalization at 428 billion at writing.

The number of addresses holding more than one bitcoin have been steadily increasing. 

Despite the bearish trend in bitcoin, buyers have constantly been accumulating the cryptocurrency since November 2021. The group of addresses holding more than 1 bitcoin has gained 100395 btc since November, which is a 10.11% increase.

Increase In Bitcoin Addresses
Increase in Bitcoin Addresses

BTC Price Prediction

In the 1w timeframe, the price action of $BTC/USDT is consolidating inside the channel. Currently, the price has broken the major horizontal support zone and going downwards.

Descending Channel Pattern In Bitcoin Prices
Descending Channel Pattern in Bitcoin Prices

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Closing Thoughts

Discipline and Patience are the most important components of a successful trade. According to the above analysis, the coins we just discussed about might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.

Disclaimer: Our analysis is for educational purposes.

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Pratyaksh

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