This Wednesday (17), the Bitcoin (BTC) spent much of the day in decline, reaching a price of $29,000.
THE cryptocurrency reached over US$ 30,000 in the morning, and remained mostly at this price until the publication of this article. However, it enters its eighth straight week of losses if it pulls back.
already the Ether (ETH), crypto asset from the network smart contracts gives Ethereumhas dropped below $2,000, and appears to show signs of even greater declines.
According to data from CoinMarketCap, the market capitalization of the sum of all crypto assets fell 2.84%, and left the market at about $1.26 trillion. The dominance of bitcoin It’s from ether is, respectively, 44.5% and 19.1%.
“Fear & Greed” Index – how is the feeling of fear in the market?
THE “Fear & Greed” indexor fear and greed, seeks to represent these feelings that surround the market. The index scale is from 0 to 100 points, where the closer to zero the fear is extreme, and from 100 the greed, or optimism, reigns:
Hey, it’s pizza day
Today is the “Bitcoin Pizza Day”, when on this same day in the year 2018, a programmer from Florida, named Laszlo Hanyecz, made a post on a forum of cryptocurrencies at the time called Bitcointalk.
Programmer and enthusiast cryptocurrency I wanted to offer 10,000 bitcoins for the purchase of two pizzas.
THE Bitcoin was created in 2019, so until then, 10,000 bitcoins were worth nothing.
Four days later, on May 22, Laszlo announced that he was able to buy the pizzas at a Papa John’s pizzeria.
Currently, the amount spent for two pizzas would be worth about US$291,269,863, or R$1,450,049,886.
Although it is a large sum, in interviews, Lazlo says he has no regrets, as he was a pioneer in using cryptocurrency as a form of payment.
On this day 12 years ago, a man paid 10,000 #Bitcoin for two pizzas.
Today, 10,000 $BTC is worth $294M. pic.twitter.com/8y1vEO7cMl
— Watcher.Guru (@WatcherGuru) May 18, 2022
Market analysis
Pedro Dias, Bitcoin Market trader, points out that after a slight rise yesterday, the cryptocurrency market fell again today, following the main US stocks.
For him, the latest events involving the ecosystem Earthaccompanied by the geopolitical uncertainties and the inflationary pressure that surrounds the world, put investors on alert.
“On the other hand, the positive economic indices of the USA and the news of the easing of restrictions in China against covid-19, added to the statements of the president of the fedbrought relief to risk markets”, he explains.
So yesterday, the bitcoin breathed and had a high of 1.91%. But this “breath” is still little to avoid the 8th consecutive week of decline, according to the trader analyst.
“Resistance between $30,800 and $32,000 and support at $29,000 are the important points for investors to keep an eye out. If it overcomes the resistances, bitcoin can draw a rise, and if it loses support, the $25,000 region can be tested” he concludes.
Decentralized Finance (DeFi)
the sector of decentralized finance (DeFi) showed slight recoveries on Tuesday (18). However, it still doesn’t even come close to recovering what it has been losing over the month.
The total amount locked in DeFi, according to the website Defillama, is US$ 139.33, a negative daily variation of 1.71%. Check the main protocols:
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Source: Moneytimes
I am an author at Global happenings and I mostly cover automobile news. In my time working in the automotive industry, I have developed a keen interest in the latest developments and trends. My writing skills have also allowed me to share my knowledge with others through articles and blog posts.
