By Weston Blasi
Cryptocurrencies like bitcoin /zigman2/quotes/31322028/realtime BTCUSD +0.53% and ether /zigman2/quotes/108573964/realtime ETHUSD -0.04% have exploded in popularity in recent years, and are now traded by both individual investors and large companies like Tesla /zigman2/quotes/203558040/composite TSLA +4.68% and Citibank .
The total market cap for all crypto nearly hit $3 trillion during parts of 2021 and companies like Robinhood /zigman2/quotes/228268942/composite HOOD +4.00% , Coinbase /zigman2/quotes/225893452/composite COIN +7.73% and Crypto.com capitalized on higher volume of crypto trading. Since then, a crypto winter has taken shape and the total global crypto market cap moved below $1 trillion in June 2022, according to CoinMarketCap .
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As the interest in crypto continues to rise, so, of course, does the interest in crypto prices.
Here’s how crypto prices changed in June 2022:
Prices for bitcoin dropped 34.76% lower during June, continuing a soft 2022 for the crypto.
“Thanks to the rebound in U.S. stock markets and the fall in U.S. yields, Bitcoin looks to have traced out a low of around $18,000 for now,” Jeffrey Halley, an analyst at broker Oanda, told Barron’s on June 27 . “From a technical perspective, a rise above $22,000 looks possible, extending onward to $24,000.”
“In the medium-term, Bitcoin remains in the danger zone, and only a rise above $28,000 negates,” he continued.
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One report indicated that the recent drop in bitcoin prices could force crypto miners to sell some of their digital assets to fund the mining operations.
MicroStrategy /zigman2/quotes/202561856/composite MSTR +4.70% CEO and bitcoin bull Michael Saylor said in a June 15 interview that the recent dip in bitcoin prices was “absolutely” a buying opportunity .
Bitcoin is down 41.6% over the past 12 months.
Prices for ether decreased 40.27% during the month of June, continuing a downward trend for the crypto in 2022.
Ethereum’s “Merge,” a major upgrade to its blockchain, will take place this year, Vitalik Buterin, ethereum’s co-founder, said. Further details about the “Merge” can be found here .