- 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)
- 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
|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%|
|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.
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