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The bitcoin rate on Monday, May 23, strengthened to $ 30,412. Over the past 24 hours, btc capitalization has grown by 3.37% to $ 580.966 billion.
Altcoins in the course of Asian trading are also adding value. Ether (ETH) and Binance Coin (BNB) rose 4% to $2,063 and $327, respectively.
The highest scorers were Solana (SOL) and Avalanche (AVAX), jumping 8% to $53.84 and $32.28. XRP, Dogecoin (DOGE) and Cardano (ADA) rose to $0.423, $0.0878 and $0.552. The capitalization of the crypto market increased to $ 1,306 pln.
Over the past seven weeks, bitcoin has suffered losses – this is the largest period of weakening of the cryptocurrency since 2011, according to Bloomberg. During the same time, the US stock index S&P 500 also retreated.
According to Fundstrat strategist Mark Newton, in the coming days the S&P 500 will weaken, at this time you need to invest in bitcoin. The bear phase will continue for another two months. After that, the analyst expects a change in the trend and the transition of bitcoin to the offensive.
Noel Achison of Genesis Global Trading predicts that by mid-July, BTC will trade in a narrow range of $29,000 to $31,000.
The cryptosphere will be guided by the policy of the Federal Reserve System. If the US regulator again increases the rate, then investors will refuse new investments in BTC.