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Cryptocurrency price today: The global cryptocurrency market on May 20, Friday, recovered slightly as it rose about 3 percent over the past day, moving in tandem with the stock markets. Main Cryptocurrencies Including Bitcoin, Ethereum and Polkadot as well, it didn’t register much movement, but it 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.
“BitcoinEthereum and other altcoins have been moving along with the stock market. The downtrend on Wall Street fell into the cryptocurrency markets as well. Just a day after US Federal Reserve Chairman Jerome Powell commented on how a 50 basis point interest rate hike would continue to control inflation, markets responded with a risk-off approach. fast Crypto market recovery “It will be unlikely if macroeconomic conditions do not improve,” said Darshan Bateja, CEO and co-founder of Fuld.
Today’s bitcoin price was standing at $30,058.20, up 3.25 percent in the past 24 hours, according to data from CoinMarketCap. “While BTC has been holding the $30,000 level, one needs to bear in mind that around $640 million in BTC options expire on Friday, May 20. This could lead to a further pullback to the recent lows that BTC has seen,” Batheja said.
“Increasing concerns about inflation and concerns about a global economic slowdown are weighing on sentiments of riskier assets, including cryptocurrencies. Among the cryptocurrency markets, Bitcoin has managed to hover around the $30,000 level, outpacing the pessimism,” noted Kunal Jagdel, Founder BitsAir Exchange Company:
Among altcoins, the price of Ether today at the time of writing this article is $2,016.59, according to the data. This has increased by 3.41 percent in the past 24 hours.
“In the altcoin space, Polkadot is expected to lead the next bullish trend as it surged nearly 4.5 percent in the past seven days after announcing interoperability and multi-chain will be the main focus at the recent WEF22 conference,” said Jennifer Lu, co-founder of Coinstore, the positive statement from the Russian Minister about the legalization of cryptocurrency as a payment option sparked some joy for the global crypto markets as Russia has emerged as the biggest supporter of cryptocurrency in recent times.
Here are the top 10 cryptocurrencies and their prices on May 20, 2022 (data from coinmarketcap.com)
Bitcoin $30.058.20 or 3.25% gain over the past 24 hours
Ethereum $2,016.59 or 3.41 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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