How are you all Hope everyone is doing well under the infinite mercy of the most merciful creator. Today I will discuss Tron fan club community has come up with a contest. Here is asked to predict the future state of the crypto market. I am trying to give my opinion about it.

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Virtual Currency Bitcoin Price Bitcoin price will continue to rise in June 2024. The price of this cryptocurrency can reach from eighty thousand dollars to one hundred thousand dollars, breaking all time records. Investors are becoming more attracted to Bitcoin as its price has been increasing recently.
In April last year, Standard Chartered said that the price of Bitcoin could reach $100,000 by the end of 2024. That's when they said, the so-called 'winter' of cryptocurrencies is coming to an end. But now, Jeff Kendrick, the bank's foreign exchange analyst, said that the price of Bitcoin could rise by another 20 percent to $120,000. But it didn't happen.
Its price peaked at $69,000 in November 2021, so the price of Bitcoin is still very low. Currently, it touches 50 thousand, but the price will be lower than November 2021.
Despite the rise in the price of Bitcoin amid the Covid-19 pandemic, investors in Bitcoin lost billions of dollars in 2022 as the US Federal Reserve and other central banks around the world raised interest rates to fight inflation. At the same time the crypto exchange FTX collapsed. However, due to the collapse of some of the world's mainstream banks this year, the cryptocurrency market, including Bitcoin, is turning around.

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According to Standard Chartered, 900 bitcoins are mined (the process by which miners add new bitcoins to the bitcoin blockchain) every day. Bitcoin mining requires miners to sell some of their bitcoins to cover the electricity consumption of supercomputers, among other expenses.
According to Jeff Kendrick, miners are now selling 100% of the new coins. If the price of Bitcoin rises to $50,000, they will probably sell 20 to 30 percent. It will sell 180 to 270 bitcoins per day. At this rate, 65,750 to 98,550 bitcoins will be sold annually, compared to 328,500.
The daily production of Bitcoin will be halved in April or May of this year to maintain balance in the Bitcoin market. This will happen due to internal reasons of the system.
But there have been big predictions about the price of Bitcoin in the past, which have not been reflected in reality. An analyst at the US City Bank said in November 2020 that the price of Bitcoin would rise to $318,000 in November 2022, but by the end of last year it had fallen by 65 percent to $16,500.

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As such, in 2022, investors in cryptocurrencies suffered one shock after another. The prices of virtual currencies are constantly falling. Even the price of Bitcoin dropped to $14,000. However, at the end of the year, the price of virtual assets increased slightly. But in 2023, the price of these currencies increased again. Last year this cryptocurrency crossed 40 thousand dollars again. Basically, the price of this virtual currency is increasing after the Federal Reserve announced to reduce the rate of interest rate increase in May. Therefore, we can expect its price to reach from 80 thousand dollars to 100 thousand dollars in June of this year.
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