Is Bitcoin Mania Coming Next Month? June Could Kickstart a BTC Price Jump to $15k

This week, Bitcoin is not faring well.

First, over the weekend, the price of bitcoin fell to $8,200. On Monday, we were able to climb back above $9,000 only to drop back below $8,300.

Currently, we are trading around $8,925 in green while managing the daily trading volume of over $3 billion.

Last week, bitcoin climbed to $10,000 level but it has met with resistance as evident from the breakdown from this level, suggesting market’s “nervousness and hesitation.”

Now that the halving is behind us, the crowd sentiments are mixed.

Bullish or Bearish Outlook?

Trader and market analyst Bitcoin Jack’s three-month outlook remains bullish. Moving forward, he is expecting high volatility in both directions in May which will have a decent end. This volatility will then move to the June rally with support at the end of the month into August.

“Successful retest and continuation of previously broken diagonals is typical parabolic behavior and could hint we are developing one,” said the analyst.

According to him, mania is expected in June but that requires media coverage and sidelined fiat FOMO. This would make $14k-$15k possible.

Also, as we reported, April, May, and June are the best months of the year for bitcoin.

Miners are also making a case for the bull market. Miners sell their BTC to cover their operational costs as such are responsible for a large chunk of capital outflow from the bitcoin network.

Now that the bitcoin reward of miners is reduced 50%, the unprofitable smaller miners could relieve the market of inefficient selling, allowing the price to rise.

Recently, a poll held in China by crypto firm RockX revealed that 57% of Chinese miners expect a surge in new bitcoin buyers in the “near future.”

The popular Stock-to-Flow model also projects a rise in BTC price post halving.

Another bull case is made by trader Jonny Moe who points out, “We tapped the 200, we saved the 20 on the daily close, and we never truly reached the horizontal resistance at ~10.5.”

In the near term, we could push higher to test $10,500 but at the same time “mid-term downside wouldn't be crazy,” he said.

The post halving markets are expected to see a correction because of “buy the rumor, sell the news,” as we have already started to see.

“The halving is a typical ‘buy the rumor, sell the news’ event in which a rally occurs prior to the event. However, once people start to realize that the halving itself doesn’t have much impact and the hype goes away, a correction should be the most likely case to occur,” said trader Michaël Van de Poppe.

Bitcoin (BTC) Live Price

1 BTC/USD =$9,554.9276 change ~ -0.04%

Coin Market Cap

$175.72 Billion

24 Hour Volume

$5.8 Billion

24 Hour VWAP

$9.56 K

24 Hour Change


Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Compound Roadmap to Full Decentralization to Begin with Issuance of COMP to Their Community

Compound will now issue COMP tokens to the users of their protocol in a bid to achieve full decentralization. They have released an...

Crypto Payment Processor BitPay Sees More Use in Stablecoins than Layer-2 Solutions

Rising fees on the Bitcoin blockchain after the halving will not set BitPay, a crypto payments startup, into using layer 2 payment channels...

Digital Dollar Foundation Releases Its First Whitepaper Urging The US Govt To Explore CBDC's

Christopher Giancarlo’s Digital Dollar Foundation releases its first white paper on the digital dollar. The projects aims at implementing a private-public partnership with...

Ethereum is Close to Being Flipped on its Own Blockchain As the Total Value Stored Is Shifting

The Ethereum network has been seeing a lot of activity in 2020. The price of Ether already seems to lead the altcoins rally, currently trading...

Coinbase, Who Controls Over 11% of Tezos, Rolls Out XTZ Staking in the UK, France, Spain, and the Netherlands

Over 6 months back, Coinbase launched Tezos staking for its US customers and now they are rolling this feature out for its users in...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today