Price Predictions

Bitcoin(BTC) Price Prediction Weekly May 2022: Will BTC Price Hit INR 25 Lakhs This Week?

BTC Price

Key Takeaways:

  • The Bitcoin price closed the previous day’s trade at INR 22,21,892 with a market capitalization of INR 43,094,716,110,200 and a circulating supply of 19,043,793 BTC
  • The star crypto is consolidating very hard from past a long time and hence showcases a strong possibility of breaking out from the consolidation 
  • However, the upcoming movement may be heavily dependent on the volume induced and hence a price movement on either side is extremely possible

Bitcoin Price Analysis:  Will BTC Price May Hit INR 24 Lakhs This Week of May?

Bitcoin, after igniting a huge descending trend ever since the beginning of April’s trade from INR 36 Lakhs, the asset dropped hard by more than 38%. However, since the drop over more than 40 days, the price is failing to recover. And hence maintained a strong consolidated trend from the past week. 

However, the price despite multiple rejections yet stands strong above INR 22 lakh indicating the rally strength to prevail long. Therefore, once the market sentiments go neutral, the BTC price is expected to change the price trend irrespective of the direction. If the price fails to sustain it may break down to INR 20 lakh or else may try to rise towards INR 25 Lakh by the end of the week.

Check out the Latest Price, Charts, and Data of BTC/INR.

Bitcoin Price Prediction: BTC Price Trend Comparison with ETH (Last 30 Days)

BTC Price

Source: Tradingview

  • Bitcoin and Ethereum are the top 2 cryptos of the crypto space which share more than 50% of the global market capitalization
  • Along with the market cap, both the assets also share a similar descending trend ever since the beginning of the April’s trade
  • With almost equal price swings, it appears that ETH price closely follows the star crypto Bitcoin
  • Currently, Bitcoin & Ethereum prices after igniting a slash from the average levels at 0 dropped hard to -40.86% and -36.80% respectively
  • The assets are expected to keep up the descending trend firmly as both are forming constant lower highs and lows.

Additional Read: Crypto Market Crash Update: Crypto Space Trembles Again

Top Gainers & Losers of the Week

Top Gainers

Crypto Price* 7-Day Percentage Change
Axie Infinity(AXS) INR 1776.33 +5.54%
Phoenix Global( (PHB)  INR 9.13 +1.94%
Tron (TRX) INR 5.91% +1.74%
USD Coin(USDC) INR 82.32 +1.25%

Top Losers

Crypto Price* 7-Day Percentage Change
Mirror Protocol(MIR) INR 18.85 -16.38%
JasmyCoin (JASMY) INR 0.99 -15.76%
Oasis Network (ROSE) INR 5.72 -14.20%
Waves (WAVES) INR 494.41 -13.81%

WHAT’S NEW ON COINDCX? NEW COIN LISTINGS ON COINDCX APP

New Coin Market Capitalization Circulating Supply
KAVA Price $446,384,664 193,825,617.00 KAVA
STEPN GMT Price $824,352,211 600,000,000 GMT
STORJ Price $204,308,217 390,247,075.35  STORJ
JASMY Price $54,983,418 4,754,930,780 JASMY

*All prices are latest by 10:00, 19  May 2022.

Download CoinDCX App, India’s safest and simplest crypto investment app. 


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].

The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

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