RATE Group | Bitcoin and crypto bullish cycle impends as governments pad economies
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Bitcoin and crypto bullish cycle impends as governments pad economies

27 May Bitcoin and crypto bullish cycle impends as governments pad economies

Posted at 21:21h in Cryptocurrency News by

Here is what you need to know on Wednesday, May 27, 2020

Markets:

The majority of cryptocurrencies are experiencing choppy markets. There has been a minor retracement in the total market capitalization from $250 million on Tuesday to $248 billion at the time of writing. Bitcoin still takes the chunk of the market share, standing at 65.5% ($162 billion) of the total market cap. Recently, the largest stablecoin in the market, Tether (USDT) rose to the third position with a market cap of $8.7 billion displacing Ripple (XRP).

BTC/USD is teetering at $8,860, a price level that has remained relatively unchanged in the last 24 hours. Bitcoin has been able to trade an intraday high of $8,893 while on the downside, $8,812.74 (intraday low) put a stop to the losses on Wednesday. As we usher in the European session, a stronger bearish trend is building. The shrinking volatility signals that downward price movements could remain limited.

ETH/USD is gradually turning…

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