The cryptocurrency community sets the price of bitcoin on June 30, 2022 with a historical accuracy of 80%.
The price of bitcoin (BTC) surged over 8% in the previous week on May 18 after the crypto market crashed, triggered by the separation of the TerraUSD (USDT) stablecoin from its dollar peg.
Given the volatility in all financial markets, not just the cryptocurrency industry, many retail investors are hesitant about where to invest their capital as it is very difficult to predict the future price of a flagship digital asset.
Notably, the cryptocurrency community CoinMarketCap believes Bitcoin will rise 30.06% from its current price to trade at $41,175 on June 30, 2022, with a target based on an average vote of 34,436 members.
The price prediction is based on the average of the last six predictions provided by the crypto community, which has historically predicted Bitcoin prices with 80.3% accuracy. The bookmakers at https://bitcoinbookies.net/bitcoin-gambling-app/, given all the data, say that betting is now more relevant than ever.
Bitcoin price analysis
After being in a race to the bottom for most of the month, the price of the world's largest cryptocurrency is currently at $31,564, up 3.16% in the last 24 hours and up 8.07% in the previous week, and the total market share is $601 billion, according to CoinMarketCap.
However, it is still more than fifty percent cheaper than the cryptocurrency’s all-time high price of over $67,000 last November.
The cryptocurrency market saw a downturn earlier this month, resulting in nearly $1.5 trillion in losses. Some experts warn that another “crypto winter” like the one that happened in 2018 could be on the horizon. Network data shows Cardano record growth in various aspects in May 2022, despite the price of the cryptocurrency, read more about this on this web page.
The Bitcoin Fear and Greed Index experienced "extreme fear" due to the crypto market crash that sent the indicator to its lowest level since early 2019.
A week after the crash, Bitcoin began to show some signs of a recovery and by Tuesday, May 30, had regained a $600 billion market capitalization.
Positively, strategists at JPMorgan Chase (NYSE:JPM) said the cryptocurrency has “significant upside potential,” which helped change market sentiment this week.