Bitcoin
BTC$16 857.94

2.52%

Ethereum
ETH$1 267.75

5.89%

Tether
USDT$0.999743

0.01%

Binance Coin
BNB$297.76

-0.65%

USD Coin
USDC$1.000075

-0.02%

Binance USD
BUSD$1.000080

-0.01%

Bitcoin price bounces despite stocks rout


12 May 2021

#Bitcoin

New all-time highs for the largest altcoin combine with fresh bullishness across crypto after this week's sell-off. Bitcoin (BTC) gained 4.3% on May 12 as cryptocurrencies recovered losses despite increasing turmoil on global stock markets.

BTC price reverses upwards

Data from Cointelegraph Markets Pro and Tradingview showed BTC/USD erasing almost all the previous day's losses on Wednesday to trade above $57,500 at the time of writing. The move came amid concerns over froth in tech stocks, fueled by problems in Taiwan which saw the country's equities index post its biggest one-day loss in history. Bitcoin and altcoins had sold off with tech stocks more broadly earlier in the week, but the latest macro dip failed to worsen their performance.

Conversely, as has become a hallmark trait of an increasingly asymmetrical market, most major cryptocurrencies bucked the trend and returned to growth. "BTC is bouncing here and Altcoins are recovering strongly," popular Twitter commentator Rekt Capital summarized on Tuesday as the United States Federal Reserve buoyed the crypto cause by refusing to suggest that economic inventions could be lessened. 

Previously, concerns had surfaced that Bitcoin could ultimately fall through $50,000 under current conditions, opening up the path to as low as $40,000.

Ethereum all-time highs persist

In a continuation of "alt season 2.0," meanwhile, Ether (ETH) led gains once again, touching new all-time highs while maintaining support at $4,000. Gas fees, however, remain a headache for traders and Ethereum network users. Other alts also challenged record highs, among them Cardano (ADA), which at the time of writing was just four cents away from all-time highs of $1.83.

Amid continued controversy over meme coins, Dogecoin (DOGE) was flat, while "tribute" coin Shiba Inu (SHIB) lost 23% to fall out of the top twenty cryptocurrencies by market cap. Weekly gains for the coin still stood at nearly 1,500%.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 59.2% 81 $16 857.94 2.52% 2.13% $324 016 560 707 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 61.6% 79 $1 267.75 5.89% 9.03% $155 139 205 312 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.6% 1 $0.999743 0.01% 0.07% $65 345 860 208 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 68.4% 65 $297.76 -0.65% 8.97% $47 633 708 279 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 90.8% 1 $1.000075 -0.02% -0.02% $43 278 140 161 USDC 7 days price change
6 Binance USD (BUSD) BUSD Binance USD predictions 92.8% 1 $1.000080 -0.01% -0.04% $22 167 145 790 BUSD 7 days price change
7 XRP (XRP) XRP XRP predictions 66% 66 $0.402255 2.89% 6.46% $20 229 424 997 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 57.2% 85 $0.106602 3.16% 30.44% $14 142 989 634 DOGE 7 days price change
9 Cardano (ADA) ADA Cardano predictions 60.4% 81 $0.314036 1.01% -0.86% $10 815 310 516 ADA 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 96% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 64.8% 72 $0.868141 3.30% 0.64% $7 582 616 669 MATIC 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 65.6% 67 $5.38 2.56% -0.10% $6 131 758 632 DOT 7 days price change
13 Dai (DAI) DAI Dai predictions 91.2% 1 $0.999926 -0.07% -0.02% $5 640 260 243 DAI 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 66% 74 $78.51 1.65% -3.13% $5 630 604 788 LTC 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 66.4% 66 $0.053881 0.82% 5.41% $5 478 359 178 WTRX 7 days price change

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