Friday, December 8, 2023

Bitcoin falls, bucking the seasonal trend; altcoins are mixed.

Over the last 24 hours, Bitcoin (BTC) has reduced by 4 per cent. On the other hand, WAVES seems to be rallying by 21 per cent. Until the fourth quarter, the monthly positive return odds shall continue to diminish.

Bitcoin and other Altcoins Price Plummets in May

In the past few days, BTC managed to pair a little more than half of its total relief bounce. During the trading day in New York, the digital asset plummeted to $29,880, reaching a steep low.

Other altcoins (Alternative Cryptocurrencies) also went down alongside Bitcoin on Wednesday. Compared to BTC’s 4 per cent decline, SOL by Solana went down by 10 per cent in the last 24 hours. Other altcoins like ADA and GALA went down by 7 per cent.

Both Digital Assets and Stocks Have Been Affected

The month of May was equally difficult for both crypto and stock traders. Buyers chose to stick to the sidelines majorly due to macroeconomic uncertainty. However, other commodities like gold seem to have benefitted from this trend.

Both stocks and Bitcoins enjoyed a small relief bounce in the last week of May. This prevented the prices downtrend from expanding further. Though the broader theme of the current year is risk-off, the trading conditions so far have been jerky.

Digital asset traders could also have a lower appetite due to BTC’s sharp decline in comparison to other tokens listed in last month’s Top 20.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

Most Popular