Bitcoin today recorded another drop below $30,000, after rising 5.33% to $30,204 on Thursday. At the time of writing, BTC is trading for $29,258, down 3%. In its annual format, the largest cryptocurrency has lost 36% over the past year.
The total value of cryptocurrencies over the past week has lost more than $600 billion in price, according to the COIN360.
Bitcoin’s (BTC) price falls below $29,500 and traders fear it could lead to $20,000 next week.
According to some analysts, the next bottom for BTC may be the level of $22,700 based on price dynamics after the cross of death in past falls, reports Cointelegraph.
By Coin360
Following the decline in BTC and ETH, Altcoins also sold out.
As an exception to the rule, Ellipsis (EPS) currencies rose 30%,, Persistence (XPRT), which added 13.9%, and 0x (ZRX) grew 12.34%.
Dogecoin (DOGE) also fell sharply. At the time of writing, it was trading at $0.084, which is almost 2 times less than the April price.
Shiba-Inu (SHIB), one of the best projects, having lost 4.5% in a week, is recovering and gives hope of a price rise by the end of 2022.
Analysts believe it could hit $0.00009 if investors decide that SHIB is an excellent investment in 2022, as well as Bitcoin and Ethereum.
The total market capitalization of cryptocurrencies so far is $1.234 trillion, while Bitcoin’s dominance rate is 44.6%.
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