• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Bitcoin
Nexo Logo

Bitcoin Market Cap Shed Over $120-B Last Month – How Much More Can It Lose?

Jet Encila by Jet Encila
2 months ago
in Bitcoin, Cryptocurrency news
Reading Time: 2 mins read
Advertisement

The market value of Bitcoin dropped and was at roughly $605 billion at the end of May. BTC is currently trading below the $50,000 mark because of the bearish stance of the market.

Last month, Bitcoin was beaten to a bloody pulp with the crypto market crash, triggering the top crypto’s market value drop. And it’s not just the crypto that bore the brunt of the pounding. Other popular cryptocurrencies had the same fate. 

But if you look at the good parts of a bad situation, BTC remains the king in terms of market cap in June 2022. The coin has concluded May with a market cap of $605.8 billion.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

If you compare June stats with BTC’s May 1 opening day market value, you’ll see how it has declined by 17%. The May 1 trading value had a market cap of $732 billion and a trading volume commensurate to $27 billion. 

Suggested Reading | Crypto Community Sees Nearly 80% Upside For Ethereum By End Of June

Bitcoin Remains Bullish

Bitcoin had shed more than 50% of its value, which was seen at its all-time high in November 2021 before the crypto market spiraled downwards. Its fall was then followed by the fall of Terra, which has further maimed the crypto industry. 

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

The bullish or weakened sentiment has spread fear and uncertainty among investors. A lot of investors panicked and withdrew their money. 

Both BTC and Ethereum, the two leading digital assets in the crypto market, have slumped by more than 40% since November of 2021. BTC price has been highly volatile over the past couple of months, and investors feel the agitation. 

On the brighter side, with crypto set at $29,000, investor confidence has been restored with the consolation that crypto has somehow stabilized. 

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.

More Fluctuations In The Coming Months?

On the other hand, experts believe that Bitcoin will face more fluctuations in the coming months. Sadly, the entire crypto market cap has been down by as much as 43% over the past two months. But, there is hope for the market to reclaim lost glory when specific metrics are met. 

A bearish crypto market is not one that investors would like to venture into, but you have to take the good with the bad in the crypto space. A bearish stance has its benefits because it gives investors more time to assess their investments and check other projects that can go up once the prices climb again. 

Suggested Reading | Bitcoin Records 1st Weekly Green Candle In 3 Months – A Start Of A Bull Run?

Bitcoin’s opening on May 1 bolstered to $37,713 and went further up with a monthly high of $39,789. It, however, tested low on May 12 at $26,350 on May 12, before it closed the month of May with a trading price of $31,792.

This gives BTC a 15% reduction between the opening and closing stats for the BTC price in May. 

Featured image from Nairametrics, chart from TradingView.com
Tags: bitcoinbitcoin market capcrypto
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Jet Encila

Jet Encila

Freelance writing is Jet's other cup of tea. When not on his computer, he unwinds with a bottle of beer and laughs with his son over cartoons. Other than that, he's just like everybody else who wants to be happy with their life.

Related Posts

crypto

Crypto Market Gains Retrace As Ethereum Merge Draws Closer

15 mins ago
crypto

Strength In U.S. Dollar May Have Killed Bullish Momentum In Crypto Market?

3 hours ago
Ethereum Price Slides As Staked Token Reaches New ATH Ahead Of Hyped Merge

Ethereum Price Slides As Staked Token Reaches New ATH Ahead Of Hyped Merge

3 hours ago
Bitcoin Tumbles As Fed Opts For Restrictive Rates

Bitcoin Tumbles As Fed Opts For Restrictive Rates

3 hours ago
Axie Infinity

Axie Infinity Drops 4.7% In Last 24 Hours As AXS Struggles In The Red Zone

5 hours ago
Bitcoin Bull Rally Fades, Mining Difficulty Surge By 0.63%

Bitcoin Bull Rally Fades, Mining Difficulty Surge By 0.63%

6 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Why are Runfy, Bitcoin and Tron being considered the next cryptos to explode in 2022

August 18, 2022

Keninah Concord: Saving The World With Blockchain-Based Solutions

August 18, 2022

How Adirize DAO, Litecoin and Floki Inu Could Be A Great Bear Market Opportunity

August 18, 2022

LBank Exchange Will List THANKQ (TQP) on August 18, 2022

August 18, 2022

Crypto Finance Coin (CTFC) Is Now Available for Trading on LBank Exchange

August 18, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.