Published on: July 1, 2020 6 months ago - 3 mins read
June 2020 – Indecision after the magical recovery
June 2020 has come to an end. Every month our team to analyzes 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 the following chart you can see how April compared to the last twelve months of altcoin performance.
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!
The top 5 performers in June were $ERD (+167.48%) , $TNB (+163.19%), $ONG (+120.44%), $LEND (+110.03%), and $REQ (+87.73%). Biggest losers were $MCO (-19.49%), $DATA (-22.35%), $SNT (-23.73%), $RCN (-23.76%), and $BAND (-26.20%).
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