Bitcoin
BTC$69 115.56

0.49%

Ethereum
ETH$3 736.98

0.02%

Tether
USDT$0.999911

-0.01%

Binance Coin
BNB$601.29

-0.11%

Solana
SOL$167.86

0.41%

USD Coin
USDC$1.000011

0%

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.


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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 80.4% 30 $69 115.56 0.49% 3.25% $1 361 818 240 549 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 74.8% 49 $3 736.98 0.02% 19.82% $448 933 629 251 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.4% 1 $0.999911 -0.01% -0.03% $111 927 378 193 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 90% 6 $601.29 -0.11% 4.00% $88 741 371 765 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 67.2% 62 $167.86 0.41% -2.55% $75 438 521 039 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 93.6% 1 $1.000011 0% -0.01% $32 731 029 043 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 90% 5 $0.541413 1.09% 3.94% $30 010 774 379 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 77.2% 35 $0.169647 3.59% 11.12% $24 503 943 727 DOGE 7 days price change
9 Toncoin (TON) TON Toncoin predictions 68% 72 $6.37 0.18% -0.02% $22 147 967 067 TON 7 days price change
10 Cardano (ADA) ADA Cardano predictions 86.4% 19 $0.460684 0.45% -4.42% $16 441 438 482 ADA 7 days price change
11 Avalanche (AVAX) AVAX Avalanche predictions 76% 46 $38.18 0.53% 2.77% $15 001 353 199 AVAX 7 days price change
12 SHIBA INU (SHIB) SHIB SHIBA INU predictions 78.4% 35 $0.000025 1.49% -0.26% $14 599 027 435 SHIB 7 days price change
13 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 84.8% 29 $69 096.38 0.39% 3.24% $10 742 867 877 WBTC 7 days price change
14 Polkadot (DOT) DOT Polkadot predictions 80.4% 27 $7.38 1.96% 3.25% $10 610 714 859 DOT 7 days price change
15 Lido stETH (STETH) STETH Lido stETH predictions 92.4% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change

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