Cryptocurrency market crash and best crypto prices today (May 18, 2022): Global crypto markets remain bearish amid prevailing sentiment of “extreme fear”. At the time of writing, the global crypto market cap has once again collapsed to $1.28 trillion from the $1.31 trillion recorded on Monday. Bitcoin price fell below the $30,000 level again.

The volume of the global cryptocurrency market in the past 24 hours decreased by 11.39% to $77.44 billion. Total DeFi volume was $7.66 billion, or 9.89% of the total 24-hour crypto market volume. The stablecoin volume was $67.5 billion, or 87.16% of the total 24-hour crypto market volume.

Bitcoin price fell below the $30,000 level to $29,844, down 1.74% in the last 24 hours.

Bitcoin price prediction: One of the reasons why the BTC market may soon rebound from the $30,000 level

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Meanwhile, Bitcoin’s dominance as the leading crypto asset continues at around 44.2%. The overall price of Bitcoin has decreased by 4.7% over the past 7 days.

Long way to go

Analysts believe there is a long way to go before the recovery from the current crash begins.

“The $30,000 level for BTC is an important psychological area. The Fear & Greed crypto indicator, which measures market sentiment, was still in extreme fear,” Darshan Bathija, CEO and co-founder of Vauld, told FE Online.

“While the price of BTC indicates that we still have a long way to go before a rally or a quick recovery, data from glassnode showed that addresses with at least 0.01 BTC broke through the 10 million mark. for the first time. While we already know that institutions made significant bets on BTC last year, this metric indicates that retail investors continue to remain bullish on the digital asset,” he said. -he adds.

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According to analysts at WazirX Trade Desk, the next support for Bitcoin is expected at $24,000.

“Bitcoin has been trending quite sideways for the past few days. Markets have been mostly dominated by buyers over this period with significantly higher volumes compared to previous weeks as market sentiment sees a positive double-digit jump. the hourly time frame, the BTC chart moved horizontally in a triangle pattern. Next support for Bitcoin is expected at $24,000,” WazirX Trade Desk said in a note.

Edul Patel, co-founder and CEO of Mudrex, says it will take a long time for investors to get back into the crypto markets.

“BTC’s initial resistance at US$33,000 could dampen an upward momentum in the price. Even though this push is limited in the bear market, it has somewhat relieved investors. With the increase in volatility over the past few days, it may not take long for investors to get back into the market,” Patel said.

Best Crypto Prices

Meanwhile, some of the top crypto prices have been in the red again for 24 hours. Looked:

Ethereum (ETH): Ethereum price declined by 1.27% to $2043 in the past 24 hours. In the past 7 days, the price of ETH has decreased by 13.57%. It is currently ranked the second crypto asset by market capitalization.

Binance (BNB): Binance coin price declined by 2% to $300 in the last 24 hours. In the last 7 days, the price of BNB has decreased by 5.7%. It is currently ranked the fifth largest crypto asset by market capitalization.

XRP: The price of the XRP coin has decreased by 1.44% to $0.4291 in the last 24 hours. In the last 7 days, the price of XRP has decreased by 16.93%. It is currently ranked 6th among crypto assets by market capitalization.

Solana (SOL): Solana price increased by 0.04% to $55.61 in the last 24 hours. Over the past 7 days, the price of SOL has decreased by 16.57%. It is currently ranked 8th among crypto assets by market capitalization.

Cardano (ADA): The price of the Cardano token declined by 1.64% to $0.5619 in the past 24 hours. In the last 7 days, the price of ADA has decreased by more than 10%. It is currently ranked 7th among crypto assets by market capitalization.

Popular memecoin price Dogecoin (DOGE) has fallen 0.9% in the past 24 hours. DOGE is currently ranked 10th in terms of market capitalization. The price of DOGE at the time of this report was $0.08905.

Meanwhile, Polkadot (DOT) and Avalanche (AVAX) prices are down 4.13% and 2.26% respectively in the past 24 hours. DOT and AVAX are currently ranked 11th and 12th on CoinMarketCap.

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