Is June a Downturn for the Crypto Market?

[Zaguru12]

If so, December 2024 will be the peak of the increase. This only refers to my experience when following the previous BTC price journey and all coins also rose and reached a new ATH again after a few months when the market was slammed again.

Just as they say history do repeat itself but I say not all the time, the last quarter of every halving year are mostly bullish (green) and December is always at the peak of it until the start of a new year. Tho current halving is more like taking different trends than we use to have and could break the last quarter jinx by been bearish.

But if we go by the momentum on the current trend which has been way two bullish with only the month of may closing on a bearish momentum, which is mostly unusual because some of the months before halving months are usually bearish but not this period. I am though optimistic about a bullish momentum Base on the fundamentals like the reduction of inflation base on CPI data. With also the ETF hype it should be a bullish momentum

[wxa7115]

Is it truly a month of downturn, or is this perception based on anecdotal ?

We are in the middle of June right now and the price hasn't stopped making lows, so maybe you could be correct that this month of June is assumably a downturn month and what we should rather see from it should be an opportunity to buy the dip as the price gets more down which am convinced won't go below 61k$ before it starts pull back high anytime soon. No need to get scared about the downturn, it's an opportunity to buy buy and buy more as one can.

That is the key here, a downward movement of the market should not be seen with negative eyes and instead we must think about it as an opportunity, we know that the price of bitcoin will do well during the next months or years, so getting scared over a small correction makes no sense.

So what we must do is to take advantage of the current price of bitcoin, since at some point the price will recover and this will allow you to make some easy profits.

[GreatArkansas]

Is it truly a month of downturn, or is this perception based on anecdotal ?

We are in the middle of June right now and the price hasn't stopped making lows, so maybe you could be correct that this month of June is assumably a downturn month and what we should rather see from it should be an opportunity to buy the dip as the price gets more down which am convinced won't go below 61k$ before it starts pull back high anytime soon. No need to get scared about the downturn, it's an opportunity to buy buy and buy more as one can.

That is the key here, a downward movement of the market should not be seen with negative eyes and instead we must think about it as an opportunity, we know that the price of bitcoin will do well during the next months or years, so getting scared over a small correction makes no sense.

So what we must do is to take advantage of the current price of bitcoin, since at some point the price will recover and this will allow you to make some easy profits.

It makes sense, some people are taking this as a good opportunity because they will have a chance to buy cheaper, because sure when we touched above $70,000 recently, a lot of people said "If Bitcoin drops below $67,000" now, it's their chance to buy cheaper Bitcoins.

We still have half a month to go if OP is really correct about this month.

[yudi09]

Is it truly a month of downturn, or is this perception based on anecdotal ?

According to monthly return data, June is not green but red. The image can be seen in one of the posts showing it.

For those who stay in the long term, this downturn will be used to add volume to the wallet. They will always be happy with market conditions experiencing a decline like this. I can say that people who buy Bitcoin in this month not only for the long term can get good returns when the price moves upwards again.

[STT]

To answer OP there is a downtrend in play right now and significantly today we pass the 50 day average.   As I count Monday as a pivotal opening to the week, possibly even indicating likely progress for the rest of the week then this negative open does not sound well.



Should we recover 66k later today or tomorrow and build from there it would be good to break this idea of a down trend.   For now I have to assume we can easily progress to 58k as the lower boundary.

[GigaBit]

Is it truly a month of downturn, or is this perception based on anecdotal ?

According to monthly return data, June is not green but red. The image can be seen in one of the posts showing it.

For those who stay in the long term, this downturn will be used to add volume to the wallet. They will always be happy with market conditions experiencing a decline like this. I can say that people who buy Bitcoin in this month not only for the long term can get good returns when the price moves upwards again.

It is never understood when the crypto market changes its pace and nature. It was thought that the market might move better in June than the previous month but it didn't happen rather the market lost its value. The prices of many coins have dropped significantly. In this situation, some are considering this bearish situation as an opportunity, while many are getting disappointed. For those who are disappointed, just say that this is not permanent so wait patiently. The market is down in June but may turn up again in July. Those who are observing the market situation are taking advantage of this bearishness and making their holding hands stronger.

[Rasa nanas]

Who said this month the price of Bitcoin will decline? I think if we look at the recent situation we have not yet come to a conclusion whether bullish or bearish. It looks like we won't get this answer in a short time, maybe next month or at most August we will get the answer. Personally I hope that after this sideway condition ends, the price of Bitcoin will become bullish and meet the hopes of many people, namely reaching $100k.

[yudi09]

-snip-

It is never understood when the crypto market changes its pace and nature. It was thought that the market might move better in June than the previous month but it didn't happen rather the market lost its value. The prices of many coins have dropped significantly. In this situation, some are considering this bearish situation as an opportunity, while many are getting disappointed. For those who are disappointed, just say that this is not permanent so wait patiently. The market is down in June but may turn up again in July. Those who are observing the market situation are taking advantage of this bearishness and making their holding hands stronger.

With speculation like that done by traders, you can at least get an idea of ​​market conditions even though it is uncertain when the market will move up and when it will move down.
We don't bother too much with those who are disappointed with the market situation they are experiencing because they still have other work to do.

According to my observations, market traffic is now boring for traders who choose daily. They will not make a profit within 24 hours as usual. For those who choose the long term, this situation is very encouraging. Whenever the forecast goes up it's not a problem, why? I saw on Binance that I often get buy requests above 10 BTC. This may be done for long-term purposes by investors who expect large returns.

[Questat]

Is it truly a month of downturn, or is this perception based on anecdotal ?

According to monthly return data, June is not green but red. The image can be seen in one of the posts showing it.

For those who stay in the long term, this downturn will be used to add volume to the wallet. They will always be happy with market conditions experiencing a decline like this. I can say that people who buy Bitcoin in this month not only for the long term can get good returns when the price moves upwards again.

Well, whether it's green or red, the important thing is we don't end up panicking and sell the coins at a lower price since that would definitely put us in the losing end. But instead, buying a lot more when there is good opportunity to buy that would add additional volume to our bitcoin.

Furthermore, if a bitcoin downturn will be more seen this month, so what? As long as we are aware on what to do in every price movement in the market, then there won't be any problem that will arise.

[Uhochi]

 Selling during a downturn can lead to losses, and buying more during that time can be a good idea. But I think June might be different. With the way the economy is going, people are looking for safe places to put their money.

Bitcoin could benefit from this. While the market might go down, I think June could surprise us and go up instead. Remember, the crypto market is always changing, and June could be a month of unexpected growth.

[uswa56]

According to monthly return data, June is not green but red. The image can be seen in one of the posts showing it.

For those who stay in the long term, this downturn will be used to add volume to the wallet. They will always be happy with market conditions experiencing a decline like this. I can say that people who buy Bitcoin in this month not only for the long term can get good returns when the price moves upwards again.

Well, whether it's green or red, the important thing is we don't end up panicking and sell the coins at a lower price since that would definitely put us in the losing end. But instead, buying a lot more when there is good opportunity to buy that would add additional volume to our bitcoin.

Furthermore, if a bitcoin downturn will be more seen this month, so what? As long as we are aware on what to do in every price movement in the market, then there won't be any problem that will arise.

What you say is absolutely correct, whether the market is experiencing a decline or an increase, of course we must not be careless and panic so that we make decisions that are detrimental to ourselves in investing and we must stick to the original plan that we had. made. before deciding to invest. If we can take advantage of market conditions that are experiencing a decline to buy more than usual, of course this will be easy for those with large capital and for some people who only have small capital, of course they can buy with that amount. we can afford it but can still make a profit when prices rise.

[Falconer]

-snip-

According to monthly return data, June is not green but red. The image can be seen in one of the posts showing it.

For those who stay in the long term, this downturn will be used to add volume to the wallet. They will always be happy with market conditions experiencing a decline like this. I can say that people who buy Bitcoin in this month not only for the long term can get good returns when the price moves upwards again.

I am not at all happy to reveal that the value of the assets I hold has fallen by 8% in the last month. This change indicates that there is a downtrend ongoing during that time frame, but it is definitely not a bad thing from an opportunity perspective. When the price drops lower, accumulation opportunities open up and this is an opportunity for anyone who is ready to add bitcoin to their portfolio.

For the last 30 days, my portfolio has been in the red zone. This is on the one hand unpleasant, in fact I am not sure if the market will recover towards the end of June. However, there is certainly a big hope for market recovery, this could happen at any time, although I actually estimate it at the beginning of July.

[topbitcoin]

-snip-

According to monthly return data, June is not green but red. The image can be seen in one of the posts showing it.

For those who stay in the long term, this downturn will be used to add volume to the wallet. They will always be happy with market conditions experiencing a decline like this. I can say that people who buy Bitcoin in this month not only for the long term can get good returns when the price moves upwards again.

I am not at all happy to reveal that the value of the assets I hold has fallen by 8% in the last month. This change indicates that there is a downtrend ongoing during that time frame, but it is definitely not a bad thing from an opportunity perspective. When the price drops lower, accumulation opportunities open up and this is an opportunity for anyone who is ready to add bitcoin to their portfolio.

For the last 30 days, my portfolio has been in the red zone. This is on the one hand unpleasant, in fact I am not sure if the market will recover towards the end of June. However, there is certainly a big hope for market recovery, this could happen at any time, although I actually estimate it at the beginning of July.

But in my opinion this is a natural thing to happen in the market when a decline occurs because indeed this market in Q1 to mid Q2 experienced a pretty good increase and significantly also bitcoin continues to dominate the market, so if there is a correction is a natural thing, there is nothing wrong with that although indeed when buying at the top price it is very painful and 8% is a hefty amount, but this is still better than the previous cycle which experienced a much sharper decline.

Supposedly a drop like that is the perfect time to resume DCA, but seeing as we may be down to $62k-$60k, we can cast a net to make the worst happen and this negative sentiment widespread.

I think at the beginning of July we will have another growth where the US might lower its interest rates and that is good news for markets like Bitcoin, it will get even better potential if interest rates are lowered, because it is not interesting anymore, believe me the end of the year maybe we will open a treasure chest.

[btc_angela]

According to monthly return data, June is not green but red. The image can be seen in one of the posts showing it.

For those who stay in the long term, this downturn will be used to add volume to the wallet. They will always be happy with market conditions experiencing a decline like this. I can say that people who buy Bitcoin in this month not only for the long term can get good returns when the price moves upwards again.

Well, whether it's green or red, the important thing is we don't end up panicking and sell the coins at a lower price since that would definitely put us in the losing end. But instead, buying a lot more when there is good opportunity to buy that would add additional volume to our bitcoin.

Furthermore, if a bitcoin downturn will be more seen this month, so what? As long as we are aware on what to do in every price movement in the market, then there won't be any problem that will arise.

What you say is absolutely correct, whether the market is experiencing a decline or an increase, of course we must not be careless and panic so that we make decisions that are detrimental to ourselves in investing and we must stick to the original plan that we had. made. before deciding to invest. If we can take advantage of market conditions that are experiencing a decline to buy more than usual, of course this will be easy for those with large capital and for some people who only have small capital, of course they can buy with that amount. we can afford it but can still make a profit when prices rise.

And we only had just a week before the end of the month and there are no uptick unfortunately as we go down to $64k-$65k as of the moment. Not sure if there will be some news that will push the market in this week or so. Nevertheless, as what history tells us, month of June is not good after the halving.

But we shouldn't panic, we still have the second half of the year to contend, and usually during this time, or at least in the last quarter of the year, we might see some good movement. And just imagine though if we are going to close this year at least $100k, that will be great to all of us.

[CageMabok]

Who said this month the price of Bitcoin will decline? I think if we look at the recent situation we have not yet come to a conclusion whether bullish or bearish. It looks like we won't get this answer in a short time, maybe next month or at most August we will get the answer. Personally I hope that after this sideway condition ends, the price of Bitcoin will become bullish and meet the hopes of many people, namely reaching $100k.

Price drops in quite small sizes also need to be taken into account and it would not be wrong if it were to be considered as a price drop that has ever occurred in the market as seen by many people this month. Currently the Bitcoin price is still very close to $65K and not too far from the $70K level, which means Bitcoin could make a new price this year with an increase to $75K after this price correction period is over. Because now Bitcoin's price decline doesn't look so sharp and it still has good movements in the market.

[boyptc]

And we only had just a week before the end of the month and there are no uptick unfortunately as we go down to $64k-$65k as of the moment. Not sure if there will be some news that will push the market in this week or so. Nevertheless, as what history tells us, month of June is not good after the halving.

It did reached down to $63k yesterday. And this really concludes like the month of June seems to be a ghost month.

But we shouldn't panic, we still have the second half of the year to contend, and usually during this time, or at least in the last quarter of the year, we might see some good movement. And just imagine though if we are going to close this year at least $100k, that will be great to all of us.

Yes, there is no need to panic.

Those that have panicked needs to rebalance their reactions. If they're long term, there is no need for them to be too negative at all.

As you believe in the long term, you should be buying some more while we're on this kind of month.

[EarnOnVictor]

Is it truly a month of downturn, or is this perception based on anecdotal ?

Initially, I thought the month of June would be different from what we experienced in April and May, and indeed, it started on the right footing, but with time, it gave up to the pressure of the Bears which are now becoming more dangerous by the day. Bitcoin is facing a lot of liquidity issues now and is bringing back the FUD to the market, no more FOMO for any reason the way we experienced before. Nevertheless, traders are now getting smarter also, this is in cutting the slice of the cake from the bottom when it has freshly hit the low.

I have done this for almost 2 weeks now and it has been so profitable instead of relying alone on some sustainable bullish movements that will not happen for now. This is expected to continue for a while even as the monthly bias is extremely bearish, it will take time before the market can overcome such a condition. Bitcoin is below many resistance levels now and I believe it should breach above $66,425 and have a daily close above it before any bullish hope can ever be rekindled as far as I am concerned.

[Woodie]

Is it truly a month of downturn, or is this perception based on anecdotal ?

You just have to look at Bitcoin's previous history,



https://www.coinglass.com/today

Would have easily thrown this outside the window thinking it's just a coincidence, but we have the Data to support this argument and am wondering what's behind all this... could it be because it's summer in parts of the world that have most Bitcoiners and most holders are cashing out to spend some of their crypto holdings now
Maybe my conspiracy  theory could be that someone is engineering a move to buy cheap coins by trying to convince people that markets are bearish and when the masses start to sell then the whales excute their buys to secure more cheap coins for their stash ... possibilities are endless.

[STT]

Definitely a downturn, nothing to dispute that view until we break past the weekly average or about 66k today.   Its hardly a drastic pullback but its been consistently down since failing to challenge 72k.    Even though we move just 10k or less that used to be a large amount in BTC, its only because the gains have been so great in the larger picture that this now seems sideways.

72k area was a double top, a twin peak mountain top that we fell down from.  Its now only completing that formation if we meet 61k and cannot bounce at all.   Further to that is 58k to fully form a double top and at this point I do expect a great burden and possible larger selling to come through.  What news might mirror that graph formation I dont know but its something to watch and be aware of.    None of that occurs in June imo.

[lepbagong]

According to monthly return data, June is not green but red. The image can be seen in one of the posts showing it.

For those who stay in the long term, this downturn will be used to add volume to the wallet. They will always be happy with market conditions experiencing a decline like this. I can say that people who buy Bitcoin in this month not only for the long term can get good returns when the price moves upwards again.

Well, whether it's green or red, the important thing is we don't end up panicking and sell the coins at a lower price since that would definitely put us in the losing end. But instead, buying a lot more when there is good opportunity to buy that would add additional volume to our bitcoin.

Furthermore, if a bitcoin downturn will be more seen this month, so what? As long as we are aware on what to do in every price movement in the market, then there won't be any problem that will arise.

What you say is absolutely correct, whether the market is experiencing a decline or an increase, of course we must not be careless and panic so that we make decisions that are detrimental to ourselves in investing and we must stick to the original plan that we had. made. before deciding to invest. If we can take advantage of market conditions that are experiencing a decline to buy more than usual, of course this will be easy for those with large capital and for some people who only have small capital, of course they can buy with that amount. we can afford it but can still make a profit when prices rise.

And we only had just a week before the end of the month and there are no uptick unfortunately as we go down to $64k-$65k as of the moment. Not sure if there will be some news that will push the market in this week or so. Nevertheless, as what history tells us, month of June is not good after the halving.

But we shouldn't panic, we still have the second half of the year to contend, and usually during this time, or at least in the last quarter of the year, we might see some good movement. And just imagine though if we are going to close this year at least $100k, that will be great to all of us.

This June it is true that there is only a week left, but we see that the movement that occurs tends to decrease, but it is still in a range that is still good and not like the past, and it has dropped below $ 60k. But actually, because time is still long enough to reach the period of increase, it is better to have corrections so that it gives the strength of encouragement for Bitcoin to be able to reach a higher level, at a time a few months later, even until the end of the year and the achievement of the peak at the beginning of next year.
I agree that by the end of this year the possibility of $ 100K will be achieved in order to provide strength at the beginning of next year to reach the latest ATH again.