Bitcoin Has Dropped Below The $30,000 Threshold

2022-05-18 | Selina Mathew

Bitcoin Has Dropped Below The $30,000 Threshold

The price of bitcoin dropped 1.57 percent to $29,898.22. The price of Ethereum fell 1.68 percent to $2,039.33.

The price of bitcoin was hovering around $30,000 on Wednesday, as the cryptocurrency market remained gloomy.

On Wednesday, Bitcoin and other major cryptocurrencies were trading in the green, but then dropped into the red.

BITCOIN VALUE

The price of bitcoin dropped 1.57 percent to $29,898.22. The price of Ethereum fell 1.68 percent to $2,039.33.

XRP was down 1.58 percent, Solana was down 2.29 percent, Cardano was down 3.30 percent, Stellar was down 1.91 percent, Avalanche was down 2.62 percent, and Polkadot was down 5.60 percent.

Dogecoin was down 1.17 percent, while Shiba Inu was down 2.19 percent, among other prominent alt currencies.

"BTC's initial resistance at $33,000 USD might stifle the rising price trend. In a gloomy environment, the rise in cryptocurrencies is restricted. Investors will be relieved following the drop on Monday "Mudrex's CEO and Co-Founder, Edul Patel.

BTC/USD 1 DAY PRICE CHART: SOURCE COINMARKETCAP.COM

 

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