Bitcoin
BTC$30 326.91

1.12%

Ethereum
ETH$2 076.58

2.21%

Tether
USDT$0.999001

0.01%

USD Coin
USDC$1.000230

-0.02%

Binance Coin
BNB$304.44

2.05%

XRP
XRP$0.435585

2.31%

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 65.6% 74 $30 326.91 1.12% -1.69% $577 507 167 326 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 66.4% 75 $2 076.58 2.21% -10.32% $250 891 465 462 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $0.999001 0.01% -0.08% $75 676 462 108 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000230 -0.02% -0.04% $52 257 987 348 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 65.6% 71 $304.44 2.05% -3.10% $49 708 837 503 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 66.8% 66 $0.435585 2.31% -13.81% $21 057 536 595 XRP 7 days price change
7 Cardano (ADA) ADA Cardano predictions 68.8% 66 $0.575630 2.12% -8.16% $19 421 209 986 ADA 7 days price change
8 Solana (SOL) SOL Solana predictions 63.2% 76 $56.43 3.88% -13.30% $19 038 552 817 SOL 7 days price change
9 Binance USD (BUSD) BUSD Binance USD predictions 96% 1 $1.002005 0.22% 0.35% $18 231 060 479 BUSD 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 62.4% 73 $0.089988 2.40% -16.42% $11 938 784 018 DOGE 7 days price change
11 Polkadot (DOT) DOT Polkadot predictions 67.2% 74 $11.01 1.97% -0.91% $10 874 092 462 DOT 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 66.4% 75 $34.13 2.44% -22.27% $9 183 931 187 AVAX 7 days price change
13 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 67.2% 74 $30 349.83 1.15% -1.21% $8 599 743 334 WBTC 7 days price change
14 TRON (TRX) TRX TRON predictions 71.6% 60 $0.072402 4.12% -4.60% $7 070 299 328 TRX 7 days price change
15 SHIBA INU (SHIB) SHIB SHIBA INU predictions 64.8% 75 $0.000013 4.03% -21.64% $6 883 934 346 SHIB 7 days price change

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