Bitcoin
BTC$23 245.06

-0.67%

Ethereum
ETH$1 649.98

-0.90%

Tether
USDT$1.000242

0.01%

Binance Coin
BNB$330.03

0.12%

USD Coin
USDC$0.999630

-0.04%

XRP
XRP$0.407147

-1.05%

Bitcoin undecided on a scenario for May


02 May 2022

#Bitcoin

Bitcoin is down 3% over the past week, ending it at around $38.K. Ethereum lost 4.4%, while other leading altcoins in the top 10 fell from 4% (Binance Coin) to 14.7% (XRP). The total capitalisation of the crypto market, according to CoinGecko, fell 4.6% over the week to $1.75 trillion.

The Bitcoin Dominance Index rose by one percentage point to 42.2% over the same period due to weakness in altcoins. For the week, the cryptocurrency fear and greed index fell by 2 points to 22 ("extreme fear").

The index rose to 28 points on Monday and moved into "fear" status. Bitcoin has declined over the past four weeks amid weakening US stock indices. On Friday, Amazon and Google shares suffered their most significant falls since 2008, dragging down the tech-rich Nasdaq Index. It lost 12.7% in April, its most considerable dip since 2008.

Bitcoin undecided on a scenario for May

Bitcoin fell 16.2% over April, offsetting the previous two-month rise and falling short of seasonal trends. This is the worst performance in a given month of the year in trading history since 2011. In terms of seasonality, May is considered a relative success for BTC.

Over the past 11 years, bitcoin has ended the month up seven times and down four times. The average rise was 27%, and the average decline was 16%. Under these scenarios, the estimated average range for BTC at the end of May is between $32K and $48K.

A more local view of the dynamics of the first cryptocurrency indicates an ongoing struggle around the $38K mark. This struggle will decide which of the above levels the price will be closer to at the end of the month. The Swiss National Bank's (SNB) management believes it is inadvisable to invest in bitcoin and hold it as reserves for the regulator. The US Department of Labor has raised concerns about an initiative by US investment firm Fidelity to allow its customers to put a portion of retirement accounts in bitcoin.


Related

Bitcoin manages to stay at support
Bitcoin manages to stay at support
Copy Trading Strategies: How to Start Successful Copy Trading
Copy Trading Strategies: How to Start Successful Copy Trading
Bitcoin enters short-term correction
Bitcoin enters short-term correction
Bitcoin recharges with optimism, aims for a $25K area
Bitcoin recharges with optimism, aims for a $25K area
Bitcoin Spring: Will BTC bounce back soon?
Bitcoin Spring: Will BTC bounce back soon?
The leading crypto has grown to 21,150 USD
The leading crypto has grown to 21,150 USD
Bitcoin price nears 3-week high as trader says sub-7% CPI may see $19K
Bitcoin price nears 3-week high as trader says sub-7% CPI may see $19K
How have Bitcoin and Forex affected each other in 2022?
How have Bitcoin and Forex affected each other in 2022?
BTC bounces back from Monday’s low
BTC bounces back from Monday’s low

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 62% 76 $23 245.06 -0.67% -1.07% $448 215 363 984 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 70.4% 57 $1 649.98 -0.90% 2.45% $201 913 823 772 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94.8% 1 $1.000242 0.01% 0% $68 081 088 023 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 78.8% 38 $330.03 0.12% 4.56% $52 111 151 986 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 93.6% 1 $0.999630 -0.04% -0.04% $41 975 476 278 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 75.2% 42 $0.407147 -1.05% -1.24% $20 682 712 207 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 94.4% 1 $1.000002 -0.02% -0.02% $16 258 300 058 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 70% 64 $0.395468 -1.61% 1.39% $13 686 825 295 ADA 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 71.6% 51 $0.093562 -0.49% 4.31% $12 412 982 136 DOGE 7 days price change
10 Polygon (MATIC) MATIC Polygon predictions 68.4% 67 $1.22 -0.49% 4.26% $10 662 953 667 MATIC 7 days price change
11 Lido stETH (STETH) STETH Lido stETH predictions 94% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
12 Solana (SOL) SOL Solana predictions 59.2% 86 $23.86 -3.04% -2.86% $8 889 364 349 SOL 7 days price change
13 SHIBA INU (SHIB) SHIB SHIBA INU predictions 64.8% 73 $0.000015 4.49% 21.57% $8 029 262 331 SHIB 7 days price change
14 Polkadot (DOT) DOT Polkadot predictions 67.6% 66 $6.74 -2.85% 2.41% $7 777 843 515 DOT 7 days price change
15 HEX (HEX) HEX HEX predictions 68% 60 $0.041057 -9.25% 52.42% $7 119 677 926 HEX 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2023 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.