Monthly Crypto Analysis - Looking back on June
June 2020 has come to an end. Every month I analyze what happened with Bitcoin and the altcoin market. Of course the crypto market recovered amazingly fast after the COVID-19 crash. April and May were very strong. How did the crypto market perform in June?
In June Bitcoin flattened completely and showed the lowest volatility in quite some time. Bitcoin “went down” 2.73%. Also altcoins did not move much as spectacularly as they usually do. On average altcoins gained 11.78% in USD value. Overall, 59.3% of all altcoins increased in USD value.
In short, June can be considered a month of indecision. Will the crypto market continue its upward momentum from April and May? Or is this flat price action the beginning of a reversal to the downside. We will have to wait and see. We know one thing: periods of low volatility are often followed by periods of high volatility, so brace for impact!
Now let's look at altcoins. In order to make this comparison as accurate as possible, I take a few things into account. First of all, if you would compare all BTC pairs you would bias the results towards the performance of Bitcoin. If Bitcoin goes down all altcoins look like they went up, but in fact might not have. The problem with USD and USDT pairs is that not all altcoins have one.
That's why I used a custom simulation software to buy one equal share of each coin at the beginning of the month, and sell it again at the end of the month and express the monetary gain in my own USD estimate. This gives the most reasonable comparison and can show you which altcoins truly stand out at the moment.
Here is a breakdown by altcoin for their June performance
Top Gainers 🥳:
Biggest Losers 😭:
I have been creating monthly overviews for the last two years and publishing it on my blog, but this is the first time publishing it here. I hope you all like it!
Follow me for consistent high quality updates, with clear explanations and charts.
Please like this post to support me.
- Trading Guru
--------------------------------------------------------------
Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
In June Bitcoin flattened completely and showed the lowest volatility in quite some time. Bitcoin “went down” 2.73%. Also altcoins did not move much as spectacularly as they usually do. On average altcoins gained 11.78% in USD value. Overall, 59.3% of all altcoins increased in USD value.
In short, June can be considered a month of indecision. Will the crypto market continue its upward momentum from April and May? Or is this flat price action the beginning of a reversal to the downside. We will have to wait and see. We know one thing: periods of low volatility are often followed by periods of high volatility, so brace for impact!
Now let's look at altcoins. In order to make this comparison as accurate as possible, I take a few things into account. First of all, if you would compare all BTC pairs you would bias the results towards the performance of Bitcoin. If Bitcoin goes down all altcoins look like they went up, but in fact might not have. The problem with USD and USDT pairs is that not all altcoins have one.
That's why I used a custom simulation software to buy one equal share of each coin at the beginning of the month, and sell it again at the end of the month and express the monetary gain in my own USD estimate. This gives the most reasonable comparison and can show you which altcoins truly stand out at the moment.
Here is a breakdown by altcoin for their June performance
Top Gainers 🥳:
Biggest Losers 😭:
I have been creating monthly overviews for the last two years and publishing it on my blog, but this is the first time publishing it here. I hope you all like it!
Follow me for consistent high quality updates, with clear explanations and charts.
Please like this post to support me.
- Trading Guru
--------------------------------------------------------------
Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
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Disclaimer
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