Bitcoin Still Below $30,000, Polkadot Recovers 6%
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Answer Bitcoin Still Below $30,000, Polkadot Recovers 6%
Bitcoin calmed below the $30,000 level and is still spinning around after the recent massive volatility that sent the major cryptocurrency down by five digits.
Most altcoins are also quite stagnant on a daily scale, with a few exceptions, such as Polkadot, Bitcoin Cash and Monero.
Bitcoin still below $30K:
The past ten days can be described as a rollercoaster par excellence.
The largest cryptocurrency stood near $40,000 before dropping by $4,000 a day.
Then it retreated further in the next two days and found itself struggling to stay above $30,000 by May 11.
It seemed almost inevitable that it would stay below that level, and it has been since May 12th.
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After this drop of $15,000 in about a week, Bitcoin reacted well as the coin reclaimed $6,000 a day, briefly benefiting from $31,000.
But it failed to maintain the $30,000 level.
As such, the market capitalization of Bitcoin is just over $565 billion.
DOT Coin Rise by 6%, Altcoins Relatively Recover:
Altcoins have gone through something quite similar to Bitcoin.
Ethereum traded at $3,000 earlier in May, but its value fell to a multi-month low of $1,700 during the most violent day of the correction period.
Ethereum bounced back at that point and recovered the $2000 streak days later.
Binance coin is close to $300 now, after dropping to $230 a few days ago.
However, on a daily scale, most of the altcoins with the largest market capitalization are trading a little bit red and green.
Polkadot and Avalanche are the only ones with notable price gains.
AVAX is up 5%, while DOT is up over 5.5% and trading north at $11.
The market capitalization of cryptocurrencies has been relatively slow in the past couple of days and is now (at time of publication) at $1,270 trillion.
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