Key Takeaways:
- The Bitcoin price closed the previous day’s trade at INR 23,12,268.01 with a market capitalization of INR 45,525,655,470,916 and a circulating supply of 19,035,637 BTC
- The star crypto is presently in deep trouble as the price has dropped more than 24% since the beginning of the May’s trade
- Grievously, the descending trend is expected to cling another 10% from its value bringing the price close to INR 21.5 lakhs in a short while from now
Bitcoin Price Analysis: Will BTC Price Hit INR 20,00,000 This Week of May?
Bitcoin price ever since smashed its highs above INR 51 lakh, dropped very hard. No doubt the asset attempted to regain its levels above $35 lakhs but eventually ended up slashing hard below INR 25 lakhs. Currently, no possibility of a trend reversal can be expected as the market trends are extremely bearish.
The BTC price has witnessed another price slash that has dragged the price below INR 24 lakhs. And hence due to negative market sentiments, the price could even slash close to INR 21 lakhs but could hold these levels strong. Only an extended bearish trend and an acute sell-off may drag the price below INR 20 lakhs. And if this happens the market may come to a standstill position for some time.
Check out the Latest Prices, Charts, and Data of BTC/USDT.
Bitcoin Price Prediction: BTC Price Trend Comparison with ETH (Last 30 Days)
Source: Tradingview
Bitcoin and Ethereum are the top two crypto-assets holding the majority of the global market capitalization. Both the top assets are plunging hard for a very long time and visiting lower levels for the first time in the past 6 to 7 months. Currently, BTC price is hovering around INR 23.8 lakhs while ETH price is around INR 1.78 lakhs.
Both the asset maintains a similar trend and price variations. Interestingly, both BTC & ETH lost from the average levels at the same time and currently hovering at -35.3% and 31.69% respectively. Woefully, both the assets are expected to continue plunging hard in the upcoming days.
Additional Read: Axie Price Prediction
Top Gainers & Losers of the Week
Top Gainers
| Crypto | Price* | 7-Day Percentage Change |
| JasmyCoin(JASMY) | INR 1.29 | +4% |
| USD Coin(USDC) | INR 81.99 | +0.99% |
| Binance USD(BUSD) | INR 81.99 | +0.99% |
| Tether(USDT) | INR 81.96 | +0.99% |
Top Losers
| Crypto | Price* | 7-Day Percentage Change |
| Anchor Protocol(ANC) | INR 72.78 | -43.40% |
| Terra (LUNA) | INR 2,950 | -42.25% |
| STEPN(GMT) | INR 157.85 | -27.71% |
| Mirror Protocol(MIR) | INR 58.24 | -25% |
*Prices are of May 09, 2022 at the time of writing the article
What’s New on CoinDCX? New Coin Listings on CoinDCX App
| Crypto | Price* |
| STEPN(GMT | INR 156.15 |
| Storj(STORJ) | INR 52.35 |
| JasmyCoin(JASMY) | INR 1.29 |
| Audius(AUDIO) | INR 50.54 |
*Prices are of May 09, 2022 at the time of writing the article
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to [email protected].
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