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 www.teknolojioku.com.
*The article has been translated based on the content of Teknolojioku Rss by www.teknolojioku.com. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!
*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.
*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!