Record-breaking of the market in consecutive red candles! Dropout scenarios versus rebound scenarios.
The crypto market report for May 2022 is as follows:
Red and descending weekly candles have been closed during the last weeks due to Bitcoin price volatility between 28 to 31 dollars in the previous nine weeks. One of the critical reasons is Federal Reserves’ decision to increase the interest rate.
Also, the Ukraine war and the quarantine caused by the new wave of Coronavirus in China are other causes of the issue.
However, the Bitcoin holder’s condition has not changed. The old holders have tried to buy more Bitcoin from weak investors in the past 90 days.
The Cycle Detector of Binvest company shows that the price of this cryptocurrency will reduce to a range of 16- 24 thousand dollars.
The performance of the Binvest B100 fund was just negative 6.5 but the yield of the top 100 cryptos of the market was negative 25 percent. It means that the B100 fund has performed 19 percent better than the average market. The goal of Binvest B100 fund is to generate a yield higher than the average yield of 100 top cryptocurrencies in the market.
You can see the complete report below: