Cryptocurrency rate today: Extreme volatility in the world Cryptocurrency market It seems to have calmed down, with its value holding steady over the past few days as the majors haven’t shown much movement. This comes days after the cryptocurrency market plunged dramatically, with cryptocurrencies losing as much as 30 percent of their values in a single day. According to global data Cryptocurrency The market cap on Wednesday, May 18, was $1.29 trillion, down 1.44 percent over the past day — driven by a slight decline in other cryptocurrencies.
Today Bitcoin price was at $29,879.12, dropping below the $30,000 mark again. This has decreased slightly by 2.18 percent in the past 24 hours. On the other hand, the price of Ether today settled at $2,028.87, down by 2.79 percent over the past 24 hours.
“Bitcoin has been moving somewhat sideways now, since the last few days. Markets have been largely dominated by buyers in this period with significantly higher trading volumes than in previous weeks as market sentiment sees a positive jump to double digits. On the hourly time frame, it is moving The BTC chart is horizontal within a triangle pattern. The next support for Bitcoin is expected at $24,000,” said WazirX Trade Desk.
Speaking about the movement of the cryptocurrency market, the CoinDCX research team said, “It appears that market volatility has decreased a bit, as the price movement of both stocks and cryptocurrencies are showing signs of stabilization. Investor sentiment remains tilted to the downside, however, given the lack of Significant improvement in the global macroeconomic environment and that government policies continue to favor the continued tightening of balance sheets.
Downside exhaustion could be a possible reason for price stability, which is not uncommon given the deep correction that took place in the past couple of days. Going forward, we may see a slowdown in money flows as institutions take a more cautious attitude toward capital management, as many seem to prefer to maintain cash flow.
Darshan Bateja, CEO and co-founder of Fold, said investors remain bullish on Bitcoin. “While the price of BTC indicates that we still have a long way to go before a rally or an early recovery, data from the glassnode showed that addresses of at least 0.01 BTC crossed the 10 million mark for the first time. While we already know that institutions have made large bets on BTC last year. This metric indicates that retail investors continue to be optimistic about digital assets.”
Here are the top 10 cryptocurrencies and their prices on May 18, 2022 (according to data from coinmarketcap.com)
Bitcoin $29,879.12 or 2.18% loss in the past 24 hours
Ethereum $2,028.87 or 2.79 percent loss in the last 24 hours
Tie $0.9989 or 0.01 percent loss in the last 24 hours
USD Coin $0.9999 or 0.05 percent loss in the last 24 hours
BNB $299.31 or 2.43 percent loss over the past 24 hours
XRP $0.4268 or 1.62 percent loss in the last 24 hours
Cardano $0.5616 or 3.72 percent loss over the past 24 hours
Solana $55.32 or 3.29 percent loss in the last 24 hours
Binance $0.9992 or 0.06% loss in the last 24 hours
Dogecoin $0.0888 or 1.54 percent loss over the past 24 hours