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  • Daily price analysis of Bitcoin, Atrium, Bahman and Light Coin – May 17 summary

Daily price analysis of Bitcoin, Atrium, Bahman and Light Coin – May 17 summary

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  Bitcoin

The performance of the global crypto market yesterday reflects its return to the same pattern that is evident from the performance of Bitcoin. It has continued to alternate between ascending and descending waves. Changes have brought about momentary changes, but the effect is not lasting. These gains help to increase the market value for a while, but after a downward change, they bring it to a much lower value. The market may continue in the same pattern because the value of profit does not exceed a certain amount and changes the threshold level.

South Korea has also launched an investigation into the collapse of LUNA and UST. The consequences of the collapse of LUNA continue as different countries are examining this issue. “Emergency” investigations attempt to investigate the matter in order to sort out the full details of the problem. On the other hand, Ilan Musk believes that market problems will continue for some time. Based on his predictions for the recession to continue, Mask predicts that the recession may continue for 18 months. If this happens, the market will face the same problem.

Here is a brief overview of the current market situation, performance analysis of Bitcoin, Atrium and some other Altcoins.

BTC is approaching a downtrend

Bitcoin has continued in difficult market conditions because little change has been made to overcome the problems. The bitcoin hash remains high and creates extraction problems. In comparison, the price remains low and the bitcoin load increases. The difficulty for bitcoin has reached its peak.

BTCUSD 2022 05 18 07 15 59
Source: TradingView

Data from the last 24 hours show that Bitcoin has increased 0.65% in the last 24 hours. Weekly losses have increased as the daily profit has begun to depreciate. Bitcoin weekly loss is about 1.92%. The market situation indicates rapid changes in the value of bitcoin.

The price of Bitcoin has also remained inconsistent as it is currently in the $ 30163.69 range. If we compare the market value of Bitcoin, it is estimated at $ 574,401,317,998. In comparison, the 24-hour Bitcoin trading volume is about $ 29,084,684,755.

ETH reduces profits

Atrium has also started to cut profits as capital inflows have eased. The change in the value of Atrium is due to the sluggish market, which continues to affect the entire market. Changes may continue due to the global recession economy.

ETHUSDT 2022 05 18 07 16 24
Source: TradingView

The latest data for Atrium show an increase of 1.36%. Although the current value is not so bad, it shows the market retreating towards a loss. In comparison, the seven-day loss is about 11.41%. Atrium will face tough days if the ring tightens and reduces the influx of capital.

The current value of the ETH price is in the range of $ 2069.79. If we compare the market value of this coin, it is estimated at $ 250,112,656,414. Its 24-hour trading volume is about $ 18,131,568,489.

AVAX is in a difficult situation

Bahman is also facing problems due to the reduction of capital entering the market. In the last 24 hours, Bahman performance shows a growth of 1.14%. If we compare the losses of the last seven days, it has decreased by 22.35%. A steady decline in downward power may further add to them.

AVAXUSDT 2022 05 18 07 16 55
Source: TradingView

The current price value for AVAX shows a downward pattern as it is currently around $ 33.98. If we compare the market value, it is estimated at $ 9,143,199,453. The 24-hour trading volume for this coin is about $ 671,023,100. The volume of transactions in its local currency is about 671,023,100 AWACS.

LTC maintains its achievements

Light Coin is in a better position than other coins like Bitcoin. Value added has continued, as the rate of additions has reached 5.39% in the last 24 hours. In comparison, seven-day data show a loss of 8.15%. The increase in value indicates that its price will increase in the coming days.

LTCUSDT 2022 05 18 07 17 55
Source: TradingView

The current value of the Light Coin price is in the range of $ 72.70. If we compare the market value of LightCoin, it is estimated to be $ 5,111,251,346. The amount of transactions also increased due to the influx of capital and reached 782,068,130. The circulation of this coin is about 70,306,544 LTC.

Final Thoughts

The global crypto market is bearing the brunt of the global recession. The effects of US inflation have affected the influx of capital into the market and affect market productivity. Therefore, the change in value has brought alarmingly low levels. An example is the global market value, which is currently $ 1.30 trillion. If the negative changes continue, they are going to decrease.