The CoinMarketCap crypto community is predicting what the price of BNB, the leading crypto Bitcoin (BTC) and the largest crypto exchange Binance’s native token, will be in June as the crypto market tries to recover on the last day of the month.
Crypto community’s Bitcoin price forecast for June
The price of Bitcoin (BTC) rose over 9% in the previous week, with stablecoin TerraUSD (USDT) in dollars After the crypto market crash triggered by the loss of its anchor, it rose to nearly 18% higher than its low of $26,700 earlier this year on May 12.
Given the volatility in all financial markets, not just the cryptocurrency sector, many individual investors are hesitant on where to allocate their capital as it is very difficult to predict the future price of the leading crypto. In particular, the CoinMarketCap crypto community thinks that with an average of 34,436 votes, Bitcoin will trade at $41,175 on June 30, 2022, an increase of 30.06% from the current price.
Bitcoin price forecast / Source: CoinMarketCap The price projection is based on the average of the last six forecasts provided by the crypto community, which historically predicted Bitcoin prices with 80.3% accuracy.
Bitcoin forecast historical accuracy / Source: CoinMarketCap Bitcoin (BTC) price analysis
After getting caught in a bear run for most of the month, The price of the leading cryptocurrency stands at $32,019 with a total market cap of $610 billion, up 4.53% in the last 24 hours and 9.46% compared to the previous week, according to CoinMarketCap data at the time of writing.
Bitcoin 7-day price chart / Source: CoinMarketCap However, this is the all-time high for the cryptocurrency, which hit over $67,000 in November last year. still 50% less than its price. Kriptokoin.com As you can follow, the crypto market saw a decline earlier this month, resulting in a loss of almost $1.5 trillion. Some experts warn that another ‘crypto winter’ like the one that occurred in 2018 may be on the horizon.
Bitcoin Fear and Greed Index recorded “extreme fear” due to the crypto market collapse, causing the indicator to drop to its lowest level since early 2019. In the week following the crash, Bitcoin started showing some signs of recovery and managed to gain a market cap of $600 billion by Tuesday, May 30.
On the positive side, strategists at JPMorgan Chase claim that the leading cryptocurrency has ‘significant upside potential’ that has helped shift market sentiment this week.
Crypto community’s BNB price prediction for June
With the majority of the cryptocurrency market starting to recover, the price of Binance’s native token BNB is also a bit off, at least in terms of intraday gains. The amount is making progress, leading the crypto community to anticipate its further upswing.
Indeed, the constituency on CoinMarketCap predicts that with 83% historical accuracy and 2,975 votes, the digital currency of the largest crypto exchange will be trading at an average of $403.23 by the end of June 2022. Specifically, the estimated price marks an increase of $83.5, or 26.11%, from the current value of the decentralized finance (DeFi) asset of $319.74.
BNB June price forecast / Source: CoinMarketCap Meanwhile, 1,613 community votes for the end of July set a slightly higher growth target than June, and the coin’s July 31st It estimates that it will trade at $415.39 on . This means an increase of $95.65, or 29.92%, at the current price. Based on the performance of its forecasts for the previous six months, the crypto community has historically predicted BNB price with 83.06% accuracy.
BNB price prediction historical accuracy / Source: CoinMarketCap In early March, a group of financial experts predicted that the price of BNB will continue to rise steadily over the next decade, and even 2,400 by 2030. He estimated it would exceed the dollar. Experts expressed their belief that BNB will close the year 2022 with a price of around $527.
Binance Coin (BNB) price analysis
At press time, Binance Coin was trading at $322.85, which is 2.5% during the day, but seven days It shows an increase of 0.12% compared to before.
BNB 7-day price chart / Source: CoinMarketCap Time will tell whether the expectations of the crypto community and experts for the future price of BNB will actually come true.
