Bitcoin
BTC$66 157.02

-1.27%

Ethereum
ETH$3 074.16

-1.60%

Tether
USDT$1.000015

-0.06%

Binance Coin
BNB$574.25

-0.68%

Solana
SOL$170.18

-1.80%

USD Coin
USDC$1.000049

-0.04%

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 87.6% 17 $66 157.02 -1.27% 7.95% $1 303 330 068 297 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 84.8% 20 $3 074.16 -1.60% 5.18% $369 281 037 095 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 95.2% 1 $1.000015 -0.06% 0.03% $111 436 605 664 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 91.2% 8 $574.25 -0.68% -3.89% $84 751 254 658 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 76.8% 39 $170.18 -1.80% 17.62% $76 396 585 251 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 94.8% 1 $1.000049 -0.04% 0% $33 487 887 490 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 90.4% 9 $0.509712 -2.34% 1.83% $28 181 419 553 XRP 7 days price change
8 Toncoin (TON) TON Toncoin predictions 67.6% 66 $6.32 -2.01% -8.78% $21 972 233 501 TON 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 81.6% 31 $0.149125 -2.97% 5.68% $21 527 454 672 DOGE 7 days price change
10 Cardano (ADA) ADA Cardano predictions 85.2% 22 $0.470058 -2.74% 7.41% $16 771 733 008 ADA 7 days price change
11 SHIBA INU (SHIB) SHIB SHIBA INU predictions 76.8% 42 $0.000024 -3.59% 6.90% $14 084 542 112 SHIB 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 78.8% 38 $35.70 -3.98% 5.91% $13 664 747 798 AVAX 7 days price change
13 TRON (TRX) TRX TRON predictions 84% 27 $0.121383 -1.46% -4.41% $10 613 868 281 TRX 7 days price change
14 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 81.6% 25 $0.120983 -2.11% -4.47% $10 578 909 631 WTRX 7 days price change
15 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 88% 17 $66 209.96 -1.14% 8.00% $10 295 421 937 WBTC 7 days price change

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