The crypto community gave the good news! A double feast is coming!

Given that Bitcoin (BTC) has been trading between $38,000 and $44,000 in recent weeks and continues to trade sideways, many crypto traders are confused about when the flagship digital asset will experience a sharp move in either direction. However, there is a strong forecast for May 31, 2022.

Crypto community predicted Bitcoin price for May 31, 2022!

The CoinMarketCap crypto community thinks that Bitcoin will rise 21% from the current price by May 31, 2022, with the target based on an average of 39,965 members.

BTC price projection of the crypto community. Source: CoinMarketCap

The price prediction is based on the average of the last six predictions made by the crypto community, which historically predicted Bitcoin prices with an accuracy of 83.29%.

BTC historical accuracy of the crypto community. Source: CoinMarketCap

Meanwhile, 24,872 community members set a target of $43,713 by the end of June, +$4,909 from the current price, but lower than their May estimate. The prediction comes when Bitcoin drops below the critical $40,000.

In the face of global market turmoil, market speculators are eagerly watching Bitcoin’s performance as a safe-haven asset, especially given that BTC has fallen by 16.09% to date.

Bullish scenarios for Bitcoin are strong

According to prominent cryptocurrency trading analyst Michaël van de Poppe, he cites a break above the $39,300 barrier as well as a weakening of the US dollar index (DXY) as two possibilities that could cause the Bitcoin price to move higher.

Legal warning: The content on this site should not be considered investment advice. Investment is speculative. When investing, your capital is at risk.

Source: Teknolojioku Rss by

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