Bitcoin Below $30,000 Again But Markets Stabilize; See the list

Cryptocurrency price today: The extreme volatility in the global cryptocurrency market appears to be calming down with its value remaining stable over the past few days as major coins haven’t shown much movement. This comes days after the cryptocurrency market took a huge plunge, with cryptocurrencies losing up to 30% of their value in a single day. According to the data, the global cryptocurrency market capitalization on Wednesday, May 18 stood at $1.29 trillion, down 1.44% over the past day – driven by slight declines in other cryptocurrencies.

The price of bitcoin was today at $29,879.12, while it once again fell below the $30,000 mark. This has slightly decreased by 2.18% in the last 24 hours. On the other hand, Ether price stood at $2,028.87 today, down 2.79% in the last 24 hours.

“Bitcoin has been trending quite sideways for the past few days. Markets have been mostly dominated by buyers over this period with significantly higher volumes compared to previous weeks as market sentiment sees a positive double-digit jump. Over the hourly time frame, the BTC chart has moved horizontally in a triangle pattern. Next support for Bitcoin is expected at $24,000,” the WazirX Trade Desk said.

Speaking on the movement in the crypto market, the CoinDCX research team said, “Market volatility appears to have declined significantly, with both stock and crypto price action showing signs of stabilizing. Investor sentiment, however, remains tilted to the downside, as there has been no significant improvement in the global macro environment and government policies still favor continued balance sheet tightening.

“Downside exhaustion could be the likely cause for price stabilization, which is not uncommon given the deep correction of the previous few days. funds as institutions take a more cautious stance towards capital management, with many appearing to have a preference for preserving cash flow,” he added.

Darshan Bathija, CEO and co-founder of Vauld, said investors are still optimistic about Bitcoin. “While the price of BTC indicates that we still have a long way to go before a rally or a quick recovery, data from glassnode showed that addresses with at least 0.01 BTC broke through the 10 million mark. for the first time. While we already know that institutions made significant bets on BTC last year, this metric indicates that retail investors continue to remain bullish on the digital asset,” he said. -he declares.

Here are the top 10 cryptocurrencies and their prices as of May 18, 2022 (According to data from coinmarketcap.com)

Bitcoin $29,879.12 or 2.18% loss in the last 24 hours

Ethereum $2,028.87 or 2.79% loss in the last 24 hours

Tether $0.9989 or 0.01% loss in the last 24 hours

USD Coin $0.9999 or 0.05% loss in the last 24 hours

BNB $299.31 or 2.43% loss in the last 24 hours

XRP $0.4268 or 1.62% loss in the last 24 hours

Cardano $0.5616 or 3.72% loss in the last 24 hours

Solana $55.32 or 3.29% loss in the last 24 hours

Binance USD $0.9992 or 0.06% loss in the last 24 hours

Dogecoin $0.0888 or 1.54% loss in the last 24 hours

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