Bitcoin seems to be fighting for the psychological $30,000 mark. During the past week, it has been broken from above, but at the end, Bitcoin repeatedly returned to this level. Other cryptocurrencies were also looking for stability.
Is Bitcoin recovering?
Bitcoin wrote off more than a quarter of its value in a single week and traded just above the $26,000 mark on Thursday. Before the start of the weekend, however, it began to recover and from Thursday to Friday its price exceeded 30 thousand dollars. However, over the weekend came another decline and Bitcoin was looking for direction in the range of 28 to 30 thousand dollars.
The mood is also in the stock market
According to analysts of the Coindesk.com portal, however, it is necessary to count on the possibility that Bitcoin will again head into the red, because the market is still dominated by bearish sentiments. Other relatively widespread cryptocurrencies such as Ethereum and Ripple also experienced significant declines.
The digital currency market is following developments in equity markets, which are also struggling with the bad mood of investors caused by fears of monetary policy tightening or developments in Ukraine. Moreover, May has long been one of the worst months of the year in financial markets.
