Bitcoin price fails at $30,000
- May 11, 2022
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On Wednesday, May 11, prices of the first cryptocurrency fell below $30,000 and currently the price of the asset has dropped to $29,000. At the time of writing,
On Wednesday, May 11, prices of the first cryptocurrency fell below $30,000 and currently the price of the asset has dropped to $29,000.
At the time of writing, Bitcoin is trading at $29,200.
According to CoinGecko, the price of digital gold has dropped 8.6% in the past day and 22.1% in the past week.
Ethereum is trading below $2200, down 10.8% in one day. Other altcoins in the top 10 by capitalization are also in the red zone. Solana (29.8%) and Dogecoin (22.1%) lost more in one day than any other.
According to Coinglass, the daily liquidation volume in the futures market has exceeded $770 million.
The index of fear and greed in the crypto industry reached 12 points (“extreme fear”).
Bitcoin Fear and Greed Index 12 – Extreme Fear
Current price: $31,508 pic.twitter.com/F5LNwt7MRb— Bitcoin Fear and Greed Index (@BitcoinFear) 11 May 2022
On May 9, prices of the first cryptocurrency dropped below $32,000, updating the minimum since summer 2021.
Bitcoin critic Peter Schiff described it as “likely” that if the $30,000 level were to break sharply, the price of the asset would drop to $10,000.
Earlier, Mike Novogratz, the founder of Galaxy Digital, allowed further declines in the cryptocurrency market. According to him, the next few quarters will be volatile due to the downside on Wall Street.
Recall that on May 11, the algorithmic stablecoin of the Terra ecosystem – TerraUSD (UST) – was again pegged to the US dollar. The LUNA cryptocurrency used to mine it crashed 97% in one day.
Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
