Bitcoin volatility hit a 13-month high in May amid sharp fluctuations. (Photo illustration by Edward … [+] Smith/Getty Images) Getty Images Bitcoin prices had a wild May, experiencing sharp gyrations while they lost close to half their value in a matter of weeks. The digital currency’s annualized 30-day volatility reached 116.62% on May 24, its highest since April 10, 2020, data provided by asset manager Blockforce Capital reveals. This particular measure climbed to its… Source link

The price of Bitcoin appears to have achieved some stability over $35K, but its next moves will be crucial. Since the price of BTC dropped below $40K in mid-May, the price of the asset has meandered throughout the $32K-$38K range, never quite managing to build enough support to recapture $40K. Analysts believe that if support about $35K continues to build, there could be a meaningful and sustained movement toward $40K and above, one that is not so pumped on leverage. However, if not BTC could… Source link

Ethereum Ethereum fell by 2.71% on Tuesday. Partially reversing a 13.38% rally from Monday, Ethereum ended the day at $2,634.42. A bullish start to the day saw Ethereum rally to an early morning intraday high $2,748.00 before hitting reverse. Coming up against the 38.2% FIB of $2,740, Ethereum slid to a late afternoon intraday low $2,527.88. Steering clear of the first major support level at $2,415, Ethereum moved back through to $2,600 levels to limit the downside. At the time of writing,… Source link

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Investors have been selling bitcoin for the past week, according to on-chain data. Meanwhile, ether’s daily trading volumes have consistently outpaced BTC’s. Bitcoin (BTC) trading around $35,987 as of 21:00 UTC (4 p.m. ET). In the red 2.5% over the previous 24 hours. Bitcoin’s 24-hour range: $35,754-$37,833 (CoinDesk 20) Ether (ETH) trading around $2,549 as of 21:00 UTC (4 p.m. ET). Losing 3.2% over the previous 24 hours. Ether’s 24-hour range: $2,532-$2,734 (CoinDesk 20) Bearish bitcoin… Source link

Editor’s note Be careful with cryptocurrency. Bitcoin — and the entire crypto market — is highly volatile and we do not recommend any particular cryptocurrency. For many people, Bitcoin is cryptocurrency. Ask them ‘What is Bitcoin?’ and you might not get the right answer — but they’d at least have heard of it. That’s hardly surprising, because although Bitcoin is far from the only cryptocurrency, it was the first to be created and it remains by some distance the most famous and the most… Source link

As the entire cryptocurrency market softens, the price of Litecoin (CCC:LTC-USD) has been dragged through the mud, down from a high of $408.57 reached in mid-May to today’s price of around $181. Can this cryptocurrency get back above $400? Source: Shutterstock The digital coin flirted with $200 in the last few trading sessions of May but has since stumbled backward. Investors interested in cryptocurrencies need to decide if Litecoin’s current slump represents a buying… Source link

As of June 1, Ether (ETH) has dipped more than 40% after establishing a record high of $4,384 in May. The major move downhill for the world’s second-largest cryptocurrency by market capitalization has prompted many analysts to predict additional declines. For instance, Clem Chambers, chief executive of financial analytics portal ADVFN, sees the recent ETH/USD plunge as reminiscent of the beginning of 2018’s crypto crash that preceded a 24,000%-plus bull run. Comparing Ether’s (black) and… Source link

The correlation between Litecoin and Bitcoin makes the Litecoin price prediction eerily similar to that of Bitcoin. There is a bearish pennant on the daily chart, which raises the potential of a steeper selloff in the days or weeks to come. The extent of Litecoin’s price recovery periods is consistently getting smaller. Yesterday’s 10% surge did not get Litecoin back to last week’s price levels. The price rejection at the consolidation area of the bearish pennant tallies with… Source link

Interested in ETFs? Visit our ETF Hub for investor news and education, market updates and analysis and easy-to-use tools to help you select the right ETFs. Exchange traded fund managers eager to cash in on the frenzied trading around cryptocurrencies are bracing themselves for longer than expected regulatory scrutiny after comments from Securities and Exchange Commission chair Gary Gensler damped hopes of a swift approval of bitcoin ETFs this year. In testimony before the… Source link