Crypto Trends Will Still Be Sluggish During June 2022

Purebun.com – Crypto Trends Will Still Be Sluggish During June 2022. Beginning in June 2022 the movement of the crypto market is still hesitant so it has not given a high price rally. Bitcoin and other top cryptocurrencies can strengthen one day and then fall again the next.

Bitcoin, for example, opened a new month by successfully strengthening in the price range of USD 30,000 or around Rp. 433 million. However, a day later Bitcoin fell back in the USD 29,000 price range.

Based on data from Coinmarketcap, Friday morning (6/3/2022), Bitcoin strengthened again at the price of USD 30,424.25, up 2.27 percent within 24 hours. So what is the trend for Bitcoin and altcoins during June 2022?

The CEO of Litedex Protocol, Andrew Suhalim said, currently the Fear and Greed index is not good. Because of this, the sideway automatically tends to go down because there has not been an increase in the fear and greed index indicator.

“Based on the chart, currently the sideway tends to fall daily in the area of ​​USD 29,000 to USD 30,000,” said Andrew to Liputan6.com, written Friday, June 3, 2022.

Andrew also said the trend for crypto is still likely to be bearish. On chain data shows the trend is still bearish. In addition, micro-economic conditions are not good.

“There is a big inflation going on in the global economy, especially in America. This has an impact on increasing interest rates. Conditions like this cause the level of investor confidence to decline,” explained Andrew.

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Meanwhile, according to Andrew, the sentiment that still overshadows Bitcoin and the top altcoins during June 2022 is the macroeconomic situation that has not improved.

“As long as the macro-economic situation is still not fine, this situation will play into the sentiment of the greatest significance to crypto prices in June,” concluded Andrew.

Crypto Prices Friday Morning 3 June 2022

Previously, the price of bitcoin and crypto at the top of the list was observed to experience a uniform price movement again on Friday morning (3/6/2022). The majority of the top cryptocurrencies managed to strengthen again and perched in the green zone.

Based on data from Coinmarketcap, Friday morning, June 3, 2022, the crypto with the largest market capitalization, Bitcoin (BTC) rose 2.60 percent in the last 24 hours and 2.63 percent in the week.

Currently, the price of bitcoin is at the level of USD 30,337.19 per coin or equivalent to IDR 437.9 million (assuming an exchange rate of IDR 14,435 per US dollar).

Ethereum (ETH) also managed to strengthen today. Over the past 24 hours, ETH has rocketed slightly 1.63 percent, but is still down 0.33 percent for the week. That way, ETH is currently at the level of USD 1,827.92 per coin.

The next cryptocurrency, the previously weak Binance coin, is now strengthening again. In the last 24 hours BNB is up 2.54 percent. But still down 2.01 percent for the week. This makes BNB priced at USD 306.49 per coin.

Other Crypto Prices

Crypto Trends Will Still Be Sluggish During June 2022

Then Cardano (ADA) also strengthened this morning. In the past day the ADA was up 8.29 percent and 21.04 percent for the week. Thus, ADA is at USD 0.5876 per coin.

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Meanwhile, Solana (SOL) also managed to return to the green zone. Throughout the last one day SOL rose slightly 0.07 percent. But still weakened 8.16 percent for the week. Currently, the price of SOL is at the level of USD 40.94 per coin.

XRP managed to strengthen today. In the past day, XRP rose 2.11 percent and 1.21 percent in the week. That way, XRP is now priced at USD 0.4034 per coin.

Stablecoin Tether (USDT) and USD coin (USDC), both strengthened 0.01 percent today. This makes USDT at the level of USD 0.9993. While USDC is valued at USD 1.00.

Binance USD (BUSD) is up 0.21 percent in the last 24 hours. Currently the price of BUSD has returned to the level of USD 1.00.

Microstrategy Won’t Sell Reserved Bitcoin

Previously, the CEO of Nasdaq-listed software company Microstrategy, Michael Saylor, shared his Bitcoin views in an interview with Yahoo Finance Live.

Saylor is still bullish on Bitcoin despite the recent sell-off. He was asked if there was a target price at which Microstrategy would start liquidating some of its Bitcoins. As is currently known, the company holds 129,218 BTC.

“No, we are in it for the long term. Our strategy is to buy bitcoin and hold bitcoin, so there is no price target. I hope we will buy bitcoin in the local top forever,” said Saylor, quoted from Bitcoin.com, Thursday, 2 June 2022.

“I hope bitcoin will hit millions. So, we are very patient. We think this is the future of money,” he continued.

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The CEO of Microstrategy also gave his opinion on the recent phenomenon of the crypto network Terra, Luna coin and Terra USD (UST).

“I think the destruction of LUNA, UST, which will accelerate regulation of stablecoins and security tokens, which will be a good thing for the industry,” Saylor said.

“Over time, I think when people are educated and they feel more comfortable, I think we will recover from this downturn,” he said.

Saylor has long been bullish on bitcoin. In February, he said there was evidence of more institutional adoption. Then in November last year, he said bitcoin would emerge as a $100 trillion asset class.

 

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