Price Predictions

Bitcoin Price Prediction Weekly (June 2022): BTC Price on the Verge to Drop Hard this Weekend

BTC Price

Key Takeaways: 

  • The Bitcoin (BTC) price closed the previous day’s trade at INR 16,57,404 with a market capitalization of INR 31.67 trillion and a circulating supply of 19 million BTC
  • The asset is heavily consolidating within narrow ranges, but eventually primed for a minor breakout but only for a short-term
  • The BTC price appears to plunge hard in the long-term as the asset is swinging within a notable bearish channel

Bitcoin Price Analysis:  Will BTC Price Hit INR 18 Lakh This Week of June?

Bitcoin price after the recent price slash from INR 23 lakh levels to INR 16 lakh levels has been consolidating heavily in the lower regions. Bulls and bears both appear pretty firm and possess equal strength which has impacted the volatility of the price heavily. Therefore, the asset is constantly forming a Doji candle for the past couple of days. 

No doubt a breakout may be fast approaching, but it may be a short-lived one. As mirroring the previous breakdown, the BTC price may plunge hard from the bearish flag formed If the bears conquer the rally, the price is feared to drain hard below INR 12 Lakh and in the worst case may even plunge close to INR 10 lakh. However, such a steep drop may occur all of a sudden, but a descending consolidation may be in place.

Check out latest BTC Price, charts, and data.

Bitcoin Price Prediction: BTC Price Trend Comparison with YFI (Last 30 Days)

BTC Price

Source: Tradingview

  • Bitcoin & Yearn finance are the top 2 most trending coins for the day, BTC being the most traded while YFI to surge exceptionally by more than 30% since the beginning of the day’s trade
  • BTC & YFI price one were the top competitors to reach $50K first, however, YFI is the only altcoin which managed to record the highest levels, more than Bitcoin in the last bull run in 2021 
  • After the May crash, both the asset bled heavily, but BTC price managed the situation well and appear in a better position
  • On the other hand, YFI price maintained a huge descending trend after the price slash and flipped recently gaining significant bullish momentum
  • Bitcoin after consolidating heavily along -25% range plunged hard to reach -55% and currently hovering around  -47.65%
  • Yearn. Finance price began with a descending consolidation at -47% and reached close to -80% and with the recent flip surged to -62%.

Check out latest Bitcoin News, & other Crypto Updates.

Top Gainers & Losers of the Week

Top Gainers

Crypto Price* 7-Day Percentage Change
Yearn.Finance(YFI) INR 5,89,248.18 +50.80%
Axie Infinity (AXS) INR 1,471.68 +29.26%
Livepeer (LPT) INR 835.10 +30.5%
Near Protocol (NEAR) INR 338.35 +20.9%

Top Losers

Crypto Price* 7-Day Percentage Change
Bitcoin Cash (BCH) INR 9,288.68 -5.89%
Zilliqa (ZIL) INR 3.73 +35.02%
BitTorrent (BTTC) INR 0.0000725 +13.6%
Uniswap (UNI) INR 447.23 +36.4%

*Prices are of 25 June 2022 at 1 pm

What’s New on CoinDCX? New Coin Listings on CoinDCX App

Crypto Price*
Band Protocol (BAND) INR 125.05
Moonbeam (GLMR) INR 55.81
Livepeer (LPT) INR 836.02
Skale Network(SKALE) INR 4.72

*Prices are of 25 June 2022 at 1 pm

Download CoinDCX App, India’s safest and simplest crypto investment app. 


Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to [email protected].

The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

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