Bitcoin (BTC) has followed up May’s surge past the AUD $10,000 mark with a strong and steady rise over the month of June to a peak of $19,711.23. This represents an almost 18-month high, as prices above $19,000 have not been seen since mid-January 2018. This peak was short-lived, however, with the price plummeting right down to $14,470.01 the following day before rallying the day after to close at $17,690.77. The end of the month saw another dip, with BTC seeing out the month with a close of $15,163.91. Even with the fall from the mid-month peak, BTC’s overall monthly increase was just over 8%.
Ethereum took a very similar monthly course to Bitcoin, following the peaks and troughs almost exactly. The price opened at $389.87, rose to $517.96, and closed out the month with an increase of approximately 10% at $417.12.
The main outlier in June was XRP, further displaying the trend towards decoupling from BTC’s price movements. Opening at $0.6380 on June 1st, the price plummeted to a low of $0.5542 on the 4th before correcting with a closing price of $0.6076 on the 7th. The price fell further to just $0.5400 on June 9th.
The timings of both the MoneyGram deal announcement and share purchase were reflected in XRP’s price a little later in the month, seeing an increase from a low of AUD $0.5920 on the 16th all the way up to a peak of $0.7333 on 22/06 before an almost immediate correction, closing for the day at $0.6789. The end of the month saw a sharp downturn, with XRP closing at $0.5553.
The timings of both the MoneyGram deal announcement and share purchase were reflected in XRP’s price a little later in the month, seeing an increase from a low of AUD $0.5920 on the 16th all the way up to a peak of $0.7333 on 22/06 before an almost immediate correction, closing for the day at $0.6789. The end of the month saw a sharp downturn, with XRP closing at $0.5553.
In terms of the other altcoins, there were slight decreases almost across the board, with only LTC and OMG seeing slight upswings overall.
It’s certainly an interesting time in the crypto world, and the team at BTC Markets look forward to another exciting month in July.