Bitcoin
BTC$27 080.57

0.50%

Ethereum
ETH$1 893.90

1.22%

Tether
USDT$1.000298

0.02%

Binance Coin
BNB$306.98

0.53%

USD Coin
USDC$1.000012

0%

XRP
XRP$0.518733

2.48%

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 91.6% 12 $27 080.57 0.50% 1.41% $525 120 984 052 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 94% 5 $1 893.90 1.22% 3.85% $227 727 252 078 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.2% 1 $1.000298 0.02% 0% $83 274 522 418 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 91.6% 2 $306.98 0.53% 0.34% $47 844 502 244 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000012 0% 0% $28 940 996 302 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 80.4% 40 $0.518733 2.48% 12.36% $26 965 484 878 XRP 7 days price change
7 Cardano (ADA) ADA Cardano predictions 94% 7 $0.375804 2.71% 4.65% $13 110 576 749 ADA 7 days price change
8 Lido stETH (STETH) STETH Lido stETH predictions 90.8% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 85.6% 14 $0.072136 0.28% 2.18% $10 070 286 642 DOGE 7 days price change
10 Solana (SOL) SOL Solana predictions 82% 27 $21.12 2.00% 9.24% $8 375 768 500 SOL 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 81.6% 31 $0.897462 0.39% -0.66% $8 327 966 768 MATIC 7 days price change
12 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 80.8% 34 $0.076148 1.38% -0.10% $7 742 460 822 WTRX 7 days price change
13 TRON (TRX) TRX TRON predictions 78.4% 33 $0.076534 1.77% 0.53% $6 903 793 375 TRX 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 81.6% 38 $94.27 -0.39% 8.09% $6 887 309 688 LTC 7 days price change
15 Polkadot (DOT) DOT Polkadot predictions 90% 8 $5.23 -0.18% 0.15% $6 226 557 990 DOT 7 days price change

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