Crypto Crash Last Updated May 18: Bitcoin again below $ 30,000; Cryptocurrency

Cryptocurrency Market Crash and Top Crypto Prices Today (May 18, 2022): Crypto markets around the world remain stable amid an prevailing feeling of “extreme fear”. At the time of writing, the global crypto market cap has plummeted to 28 1.28 trillion from সোমবার 1.31 trillion recorded on Monday. The price of Bitcoin has dropped below ,000 30,000 again.

The global cryptocurrency market has shrunk 11.39% to $ 77.44 billion in the last 24 hours. DeFi had a total volume of 7.66 billion, which is 9.89% of the total crypto market 24-hour volume. The amount of stable coins was $ 67.5 billion, which is 87.16% of the total crypto market 24-hour volume.

Bitcoin fell below 30 30,000 to $ 29,844 mark, down 1.74 percent in the last 24 hours.

Meanwhile, the dominance of Bitcoin as the top crypto asset continues at about 44.2%. Overall Bitcoin prices have fallen 4.7% in the last 7 days.

I have to go far

Analysts think the current crash will go a long way before recovery begins.

“The $ 30k level is an important psychological area for BTC. The crypto fear and greed index, which measures market sentiment, was still in extreme fear, ”Darshan Bathija, CEO and co-founder of Vault, told FE Online.

“While the price of BTC indicates that we still have a long way to go before a rally or initial recovery, Glasnod’s data show that addresses with at least 0.01 BTC have crossed the 10 million mark for the first time. Although we already know that companies made big BTC bets last year, this metric indicates that retail investors are constantly bullish on digital assets, “he added.

Also read | Bitcoin Price Forecast: One Reason Why BTC Markets May Return From 30,000 Soon

The next support for Bitcoin is expected to be $ 24,000, according to analysts at WazirX Trade Desk.

“Over the last few days, Bitcoin has been going through a rough patch. Markets were dominated by buyers during this period, with significantly higher volumes than in the previous week, as market sentiment showed a double-digit positive jump. In the hourly time frame, the BTC chart is moved horizontally in a triangle pattern. Bitcoin’s next support is expected at $ 24,000. WazirX Trade Desk said in a note.

Edul Patel, co-founder and CEO of Mudrex, says it will take time for investors to return to the crypto market.

“The initial resistance of BTC at US $ 33,000 could stop the upward movement. Although this upswing is limited to the bearish market, it has given some relief to investors. As volatility has increased over the past few days, investors may take less time to return to the market, ”said Patel.

Top crypto prices

Meanwhile, some of the top crypto prices have turned red again after 24 hours. Let’s see:

Etherium (ETH): In the last 24 hours, the price of Etherium has decreased by 1.27% to 43 2043. In the last 7 days, ETH price has decreased by 13.57%. It is currently the second largest crypto asset in terms of market capitalization.

Binance (BNB): The price of Binance coin has dropped 2% to $ 300 in the last 24 hours. In the last 7 days, BNB rate has decreased by 5.6%. It is currently the fifth largest crypto asset in terms of market capitalization.

XRP: The price of XRP coins has decreased by 1.44% in the last 24 hours to 4 0.4291 In the last 7 days, XRP price has decreased by 16.93%. It is currently ranked as the 6th largest crypto asset in terms of market capitalization.

Solana (SOL): The price of Solana has risen 0.04% to $ 55.61 in the last 24 hours. In the last 7 days, SOL price has decreased by 16.57%. It is currently ranked as the 8th largest crypto asset in terms of market capitalization.

Cardano (ADA): In the last 24 hours, the price of Cardano token has decreased by 1.64% to $ 0.5619. In the last 7 days, the ADA price has dropped by more than 10%. It is currently the 7th largest crypto asset in terms of market capitalization.

Popular memecoin Dogecoin (DOGE) prices have fallen 0.9% in the last 24 hours. DOGE is currently in tenth place in terms of market capitalization The DOGE was valued at $ 0.08905 at the time of this report

Meanwhile, prices of Polkadot (DOT) and Avalanche (AVAX) fell 4.13 percent and 2.26 percent, respectively, in the last 24 hours. DOT and AVAX are currently ranked 11th and 12th in CoinMarketCap

(Cryptos and other virtual digital assets are unregulated in India. They are considered highly risky to invest in. Please consult your financial advisor before making any investment decision.)