Notwithstanding the market’s recent downturns, fund managers have remained steadfast in their commitment to cryptocurrencies, but the lack of “we bought the drop” headlines has regular traders speculating on further decline in the price of Bitcoin.
Although some experts believe the worst-case situation for Bitcoin is a drop below $20,000, the general price direction of BTC stays biased to the upward, with the weekly pattern of higher lows remaining stable.
Market anxiety before the Memorial Day weekend resulted in minimal trading on Friday, as the present risk-averse atmosphere lessened the effect of important news like Polygon (MATIC) merging its datasets into Google Cloud technology.
Notwithstanding the market’s overall decline, a few tokens succeeded in gaining ground. After a tweet reporting that the venture has reached 45,000 functional hotspots globally that provide decentralized network access for internet of things (IoT) devices, Helium (HNT) soared 28% to a fresh all-time peak of $23.01.
Following the introduction of its v2 testnet, MaidSafeCoin (MAID) experienced a 20% climb to an intraday high of $0.52, and Zcash (ZEC) gained 5% and currently trades at $159.
#BTC has already set in a Higher Low on the Weekly
Now $BTC is fighting to preserve its series of Higher Lows on the Daily#Crypto #Bitcoin
— Rekt Capital (@rektcapital) May 28, 2021
The total cryptocurrency market capitalization is currently $1.567 trillion, with Bitcoin commanding 42.8% market share.
2/ 👩💻 Blockchains are some of the richest sources of verifiable data, and this is a big step towards improving developer access to Polygon’s datasets and helping analysts unlock their immense latent value.
— Polygon (previously Matic) (@0xPolygon) May 28, 2021
4/ 📊 Building a successful Ethereum Scaling solution requires powerful insights for your partners and users. Polygon data on @GoogleCloudTech #BigQuery unlocks analytics.https://t.co/oIQZucN3Zr
— Polygon (previously Matic) (@0xPolygon) May 28, 2021
45,000 Hotspots now providing decentralized wireless coverage on #ThePeoplesNetwork 🎉! pic.twitter.com/woXdMOkOGc
— Helium (@helium) May 28, 2021
