My Dear Readers!
Today’s cryptocurrency market continues to show its extreme volatility. Bitcoin (BTC) and Ethereum (ETH) still haven’t gained significant momentum, with BTC holding steady around $68,000 and ETH near $3,800.
In contrast, Notcoin (NOT) has been making headlines by soaring over 30%, catching the eye of many traders and investors.
The global crypto market cap saw a small increase of 0.35% from yesterday, reaching $2.54 trillion. Meanwhile, the total crypto market volume surged by a staggering 42.15% in the past 24 hours, hitting $64.02 billion.
Bitcoin's Market Dominance
Bitcoin’s market dominance is at 52.89%, up by 0.23% from the previous day. Its market cap stands at $1.34 trillion, which is a 0.89% increase.
Despite a rocky May, the crypto market has entered June on a high note, with an 11.29% monthly increase. Altcoins have managed to stay positive, hinting at a potential uptrend for June.
Bitcoin's Future Potential
Here’s some exciting news for Bitcoin enthusiasts: Popular crypto trader Peter Brandt has a bullish prediction.
He suggests that Bitcoin (BTC) could hit a peak of $130,000 to $150,000 between late August and early September. This is based on patterns from previous post-halving bull markets.
The recent Bitcoin halving on April 20, 2024, cut mining rewards by 50%. Historically, these halving events have marked significant points in bull market cycles. According to Brandt, these dates often mark the midpoint between the start of a bull market and its peak.
Historical Context
Chart showing Bitcoin halving dates and claimed bull cycle starts and peaks. Source: Peter Brandt
The last Bitcoin bull market began about 16 months before the halving on May 11, 2020, and ended roughly 18 months later. This historical pattern offers a hopeful outlook for Bitcoin’s performance in the coming months.
Key Events to Watch in June 2024
Several key events this month could impact market sentiment:
US Consumer Price Index (CPI): June 12, 2024, at 08:30 AM ET
US Producer Price Index (PPI): June 13, 2024, at 08:30 AM ET
US Federal Interest Rate Decision: June 12, 2024, at 18:00 GMT
If you’re looking to understand market reactions and make informed decisions, keep an eye on these events and trends. For a detailed analysis and more insights, check out the full article on Coinpedia.
Also Read
Top Altcoins To Turn $10 to $100 This June!
Top Altcoins to Stack in June for 10x-20x Profits
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