Bitcoin Price Prediction For June : Analyst Points Out Potential High & Low Levels

After closing the first four months of the year in a green candle, Bitcoin is on the cusp of ending May in red.

Unless the bulls flip the $28k and $29.5k resistance levels, chances are that the top digital asset by market capitalization will close in May with a bearish outlook.

Moreover, ever since the Bitcoin price hit $31k in April, the instrument has been forming lower highs and lower lows on the daily timeframe, a characteristic of a falling market.

Bitcoin Price Action for June by Jason Pizinno

With the four-year cycle in the Bitcoin market at play, popular analyst Jason Pizzino noted the crypto industry is likely to experience heightened volatility of up to 10 percent on either side by the end of June.

However, the analyst added that there may be movements of up to 30 percent within the month on either side of the Bitcoin market.

Nevertheless, Pizzino highlighted that the crypto market is in a consolidation mode from the higher time frames, with the bullish outlook still at play.

“…. June has been a pretty good month for the market after a low has come in even though the average has been negative 0.9,” the analyst added.

Bigger Picture 

The crypto market has significantly grown more so in the regulatory aspect since the Terra Luna collapse exactly a year ago. The European Union recently adopted the MiCA crypto regulatory framework, which has welcomed most digital asset firms from the United States.

Notably, the Biden administration, which has struggled with high inflation amid the banking crisis, has been hostile to crypto-related firms since the implosion of FTX and Alameda Research.