Bitcoin
BTC$44 191.65

2.28%

Ethereum
ETH$2 384.27

1.22%

Tether
USDT$1.000286

0.02%

XRP
XRP$0.691977

7.73%

Binance Coin
BNB$244.21

4.75%

Solana
SOL$77.33

7.81%

Bitcoin stabilised but has trouble to reverse strongly


11 May 2022

#Bitcoin

Bitcoin added a symbolic 0.1% on Tuesday, ending the day around $31K and adding another $500 this morning. Ethereum has been adding 0.2% in the past 24 hours. Other leading altcoins from the top 10 showed mixed dynamics, ranging from a 10.8% decline (Avalanche) to a 0.2% gain (Binance Coin). The total capitalisation of the crypto market, according to CoinMarketCap, declined 1.6% overnight to $1.42 trillion. The Bitcoin Dominance Index rose 0.4% to 42.2%. The Cryptocurrency Fear and Greed Index added 2 points to 12 by Wednesday, starting recovery from an area where it rarely lingered.

Bitcoin stabilised but has trouble to reverse strongly

Although Bitcoin managed to close Tuesday’s trading with a proper strengthening, a powerful offensive did not happen, as bull buying was choked again by stock market pessimism. It remains a situation where the stock or debt markets will determine whether we see another rebound from the critical $30K level or a failure of support and a complete surrender of the buyers. Cardano creator Charles Hoskinson has announced the beginning of new crypto winter. However, he does not see any factors that could trigger the market to rebound soon.

Cryptocurrency investment company Galaxy Digital reported a net loss of $111.7 million for the first quarter of this year. Galaxy Digital founder Mike Novogratz allowed bitcoin to decline further in the coming quarters due to the negativity on Wall Street. Meanwhile, last week saw an influx of institutional investors into crypto funds after four weeks of capital withdrawals.

MicroStrategy chief executive Michael Saylor said it has no plans to sell its cryptocurrency reserves. He said bitcoin would have to fall below $3562 for the firm to have insufficient assets to secure loans. El Salvador has bought another 500 bitcoins at an average of $30,744 amid a fall in the crypto market. Last autumn, the country’s recognition of BTC as legal tender was a landmark event for the global economy.


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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 83.2% 32 $44 191.65 2.28% 14.09% $864 601 373 120 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 77.2% 36 $2 384.27 1.22% 13.64% $286 631 337 595 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $1.000286 0.02% -0.01% $90 361 522 312 USDT 7 days price change
4 XRP (XRP) XRP XRP predictions 81.6% 28 $0.691977 7.73% 12.59% $37 337 342 228 XRP 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 85.2% 18 $244.21 4.75% 6.78% $37 045 963 060 BNB 7 days price change
6 Solana (SOL) SOL Solana predictions 80.8% 38 $77.33 7.81% 24.47% $32 939 078 279 SOL 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 90.8% 1 $0.999988 -0.01% 0.01% $24 499 538 291 USDC 7 days price change
8 Cardano (ADA) ADA Cardano predictions 81.2% 37 $0.621468 30.58% 60.61% $21 949 609 212 ADA 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 74.4% 53 $0.104135 6.51% 24.05% $14 803 690 586 DOGE 7 days price change
10 Avalanche (AVAX) AVAX Avalanche predictions 75.6% 50 $32.83 21.42% 48.15% $12 006 820 565 AVAX 7 days price change
11 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
12 TRON (TRX) TRX TRON predictions 94% 7 $0.108469 2.71% 4.89% $9 596 597 053 TRX 7 days price change
13 Chainlink (LINK) LINK Chainlink predictions 77.6% 38 $17.23 7.97% 9.25% $9 592 622 058 LINK 7 days price change
14 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 90.4% 7 $0.107924 2.30% 4.39% $9 548 377 600 WTRX 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 78% 38 $7.54 20.76% 36.96% $9 456 502 227 DOT 7 days price change

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