• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Nexo

Bitcoin Market Wrap Up 5/10-5/17: BTC Plunges, Ripple Still Down, EAC Up

Nigel Dollentas by Nigel Dollentas
7 years ago
in Altcoins, Bitcoin, Markets and Prices, News, News teaser, Trending
0

Since last week’s Market Wrap Up, Bitcoin has taken a dive in price, dipping 2.25% from a high of around $244 to $236.50 as of press time. Compared to the mid-week update over on BTC.com, the change is much more sudden as the plunge from $244 to $236 occurred in the later hours of May 13.

btc

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

Also Read: Last Week’s Market Wrap Up

btc1

There seems to be no bad “seed” of news that whales could be using to manipulate the price. However, Bitcoin does not take a nosedive without a reason; chatter on social media channels are hinting at “calm before the storm” scenarios, with this price dive serving as a last-minute opportunity to accumulate some more Bitcoin.

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

Bitcoin may also be correcting itself from the rather bullish market movement from last week, with a peak nearing $249, jumping $20 in two days.

Since the plunge, however, we have seen relative stability with only minor fluctuations up and down. What in my eyes is of bigger concern is the sudden drop in volume. The normal volume of $15-$20 million in a 24 hour period has been reduced to barely $10 million.

It seems Bitcoin’s price downtrend is an isolated incident; the rest of the cryptocurrency ecosystem is not falling, which is a relief.

While Bitcoin’s plunge was an isolated incident, it certainly wasn’t the only cryptocurrency to take a beating this week. Ripple is still depreciating, a pattern continued from last week.

 Altcoin Market Analysis

Ripple

Slowly and steadily, Ripple has lost 14.17% value compared to seven days ago. Even though this downtrend show no signs of stopping, Ripple still holds a hefty chunk of the total cryptocurrency market capitalization. However, there is still a ~$150 million gap between Ripple and Litecoin.

Earthcoin performed the strongest out of the top 100 cryptocurrencies. Currently up 83% for this week, Earthcoin has nearly doubled in value.

EACWith a volume that is also nearing $30,000, Earthcoin has the 8th highest trading volume this week, proving that it has attracted a number of traders to its market. I find it odd, however, that just like Bitcoin, there is no “hype” surrounding EarthCoin.

EAC Graphs

The last tweet from EarthCoin’s twitter was 10 days ago, while its Reddit was last updated 26 days ago. Regardless, EarthCoin is definitely an altcoin I would keep an eye on. While charts show stable, consistent growth, no one knows how long trends continue in the world of cryptocurrency.

Where do you think Bitcoin is headed? Will Ripple still fall in value continuing on to next week? Let us know in the comments below!


Photo Sources: CMC, BitcoinCharts

This author’s views do not necessarily reflect those of Bitcoinist.net.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Nigel Dollentas

Nigel Dollentas

Born in the Philippines, currently stationed in the USA. The youngest member of our writing team, Nigel is our freelance writer. Learned about Cryptocurrency right after the Mt. Gox crash and has been passionate ever since. @NigelDollentas

Related Posts

Follow The Money screenshot

Let’s Dissect The “Follow The Money #1” Documentary, Pt. 1- Salvadoran Confusion

1 hour ago
Magic Johnson

Magic Johnson Unveils NFTs Showcasing The Basketball Legend’s Iconic Moments

2 hours ago
Peter McCormack screenshot

Wright Vs. McCormack, The Bitcoin Trial Of The Year Began In London

6 hours ago
FTX Token

FTX Token Becomes Second-Largest Holdings Among Ethereum Whales

14 hours ago
Bitcoin BTC BTCUSD

Rich Dad Author Recommends Bunkering Down With Food, Guns, And Bitcoin

19 hours ago
liquidations

Liquidations Settle As Bitcoin Regains Footing Above $30,000

20 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. 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.