Bitcoin Rises Above $30,000, Traders Buy After Days of Decline

The bitcoin price has recovered nearly 5% and has risen back above the $30,000 mark this afternoon as traders have bought after several days of declines from the $30,000 level.

Bitcoin price increased by $1,579 or +5.44% to $30,648.88

Antoni Trenchev, the founder of cryptocurrency lender Nexo, said Bitcoin prices have stumbled in recent days due to the collapse of the TerraUSD (UST) and Nasdaq, as well as concerns about the Federal Reserve’s accelerated rate hikes.

“Bitcoin adjusts to these factors. This is a link that cryptocurrency investors don’t want to happen. I expect the Bitcoin bear to continue for some time. Just because the bitcoin price is currently rallying above $30,000 does not mean the stagnation is nearing its end. And if Bitcoin falls below the $28,000 level, it is likely that it will drop to test the $25,000 level,”

Trenchev said.

The Spot Market is Open

Monday, May 30, 2022

Crypto
Updated at
USD
Price

Change

%Change
20.30 BTC30,333.03+936.39+3.19
20.30 ETH1,877.04+63.82+3.52
20.30 LTC65.86+2.16+3.39
20.30 BNB312.59+6.52+2.13
20.30 XRP0.40+0.01+2.12
20.30 ADA0.53+0.05+10.42
20.30 DOT10.14+0.30+3.09
20.30 DOGE0.080.00+1.46
20.30 UNI5.29+0.35+7.14
20.30 LINK7.08+0.40+6.00

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