June Crypto Market Outlook
— Investors, Cryptocurrency, Ethereum, Major, Stablecoin, Luna, Billion, Prices, Crypto, Market, Outlook — 1 min read
Bitcoin (BTC) prices dropped more than 20% in May to finish the month below $33,000. Bitcoin prices are now down more than 32% year-to-date, but BTC has held up better than most altcoins. Bitcoin’s supply is being transferred from weak hands to those with long-term conviction, says Alkesh Shah. Goldman Sachs estimates cryptos only account for about 0.3% U.S. wealth, which is concentrated in the “whale” of a relatively small number of investors, according to Goldman Sachs, which suggests the sell-off has little impact on the economy. Source