CoinMarketCap crypto community sets the price of leading crypto Bitcoin (BTC) and leading altcoin Ethereum (ETH) for May and June 2022.
Crypto community’s May and June forecast for Bitcoin
Considering that Bitcoin (BTC) has been trading between $38,000 and $44,000 over the previous few weeks as it continues to trade sideways, many cryptocurrencies Its trader is confused that the flagship digital asset will experience a sharp move in either direction.
Notably, the CoinMarketCap crypto community predicts that the digital asset will rise 21% from the current price by May 31, 2022 to reach $46,887, based on an average of 39,965 members.
Crypto community BTC price forecast / Source: CoinMarketCap The price forecast is based on the average of the last six forecasts made by the crypto community, which historically predicted Bitcoin prices with an accuracy of 83.29%.
Crypto community BTC historical accuracy / Source: CoinMarketCap Meanwhile, 24,872 community members, $43,713 by the end of June, +$4,909 from current price, but more than May estimate set a low target. The community’s prediction comes after Bitcoin slumped below the critical $40,000.
Crypto community’s ETH price prediction for May and June
Leading altcoin Ethereum (ETH) may have been trading lower last week along with the overall crypto market, but the crypto community is looking forward to seeing the price hit by the end of May. He’s still optimistic about his moves.
Indeed, despite the recent drop in Ethereum’s price, the community at CoinMarketCap predicts that the digital currency will trade at an average of $3,634 by the end of May 2022 with 21,532 votes and 80% historical accuracy.
The estimated price by community votes represents a $770.80 (+26.92%) increase from the current $2,863 value of the decentralized finance (DeFi) asset.
ETH May price prediction / Source: CoinMarketCap At the same time, 13,640 community members’ votes for the end of June set a slightly lower target than May, and ETH’s 30 It showed that it would trade at $3,260.93 in June, up $396.07, or 13.89%, from the current price. Based on the performance of previous forecasts, the crypto community has historically predicted the end-of-month price of Ethereum with 79.85% accuracy.
ETC historical accuracy of the crypto community / Source: CoinMarketCap Ethereum price analysis
Currently, Ethereum is 3.93% on the day and the previous seven days, according to CoinMarketCap data It was trading at $2,863, down 9.02% over the course of the year.
Ethereum 7-day price chart. Source: CoinMarketCap The situation is that Ethereum retains its position as the second largest digital asset by market cap with a total market cap of $347.23 billion. Meanwhile, it’s not just the crypto community that has been uplifted when it comes to the future price of Ethereum. In fact, according to Mike McGlone, senior commodities analyst at Bloomberg, Ethereum’s role at the center of the digitalization of finance and money could provide a basis for additional price increases in the near future.
Also, last month the commodities expert suggested that the price of Ethereum will continue to rise as it becomes the ‘collateral of the internet’, its supply decreasing and demand increasing. Time will tell whether the optimistic expectations of the community and experts will come true.
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