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Cryptocurrency rate today: The global cryptocurrency market on May 23, Monday, remained mostly flat but with a gain of about 2.53 percent over the past day, moving according to stock markets. Major cryptocurrencies including Bitcoin, Ethereum, and Solana also did not register significant growth, but remained in the green. However, the cryptocurrency market has not shown a significant recovery and the same is not likely to happen if the macroeconomic situation does not improve, according to experts.
Despite the ongoing market uncertainty, regulation will boost confidence and adoption of digital assets, enabling more retail investors to have confidence in entering and trading in this sector. Just as traditional finance has long been around to fine-tune its regulatory frameworks, only time and opportunity for open discussions will provide a greater understanding of the future of finance and the barriers to protecting investors, the CoinDCX research team said.
“For eight consecutive weeks, the Dow Jones Industrial Average has fallen; along with this, the major indices are also down. When the S&P 500 is down, its strong correlation with the crypto markets is evident. BTC which ends the week at $30,000 also marks its weekly close. Eighth in a row in the red Darshan Bhattija, CEO and co-founder of Fold, said, with stock markets posting new lows, the current downtrend is likely to continue.
Today’s bitcoin price was standing at $30,364.56, up 3.29 percent in the past 24 hours, according to CoinMarketCap data. Among altcoins, the price of Ether today at the time of writing this article is $2,043.93, according to the data. This has increased by 3.61 percent in the past 24 hours.
“Bitcoin price has been fairly stable since the past 10 days or so, consolidating around the $30K level. BTC monthly trend has broken below the ascending channel pattern. Next resistance is expected for BTC at $40,000, support expected to reach Spot to $24,000 Bitcoin’s monthly RSI is currently at 47, the lowest point in more than two years. “The RSI support is at 43,” WazirX trade desk said in a note to news18.com.
Here are the top 10 cryptocurrencies and their prices on May 23, 2022, Monday (data from coinmarketcap.com)
Bitcoin $30,364.56 or 3.29% gain in the past 24 hours
Ethereum $2,043.93 or 3.61 percent gain in the last 24 hours
Restrict $0.9989 or 0.01 percent gain in the last 24 hours
USD Coin $0.9999 or 0.00 percent loss in the last 24 hours
BNB gains $307.12 or 4.08 percent in the last 24 hours
XRP is up $0.432 or 6.60 percent in the last 24 hours
Binance $0.9991 or 0.25% loss in the last 24 hours
Cardano $0.529 or 3.36 percent gain in the last 24 hours
Solana $50.84 or 0.42 percent in the last 24 hours
Dogecoin $0.08621 or 2.30 percent over the past 24 hours
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