At 6:30 a.m. on May 26, the price of Bitcoin on the CoinDesk exchange stood at $38,298, down 0.9%. In the past 24 hours, the lowest trading price of Bitcoin was recorded at 36,498 USD and the highest at 39,864 USD. The amount of Bitcoin traded is about 56.1 billion USD, the market capitalization recorded at 716 billion USD.
On Vicuta, an exchange that many Vietnamese people are interested in, Bitcoin price trades in the range of 901 - 943.8 million VND (buy - sell).
Notably, Bitcoin has just experienced a series of stormy days with a decline of hundreds of billions of dollars, but many professional traders are not panicking before this market downturn.
According to Tom Lee of Fundstrat Global Advisors, Bitcoin is still on track to hit $100,000 by the end of 2021 despite the recent major plunge. “Even if Bitcoin is in a correction, I still think it can break through and hit $100,000 by the end of the year,” said Tom Lee.
The cryptocurrency market this morning is inclined to decline, but not to a great extent. Specifically, Tether down 0.04% Binance Coin down 4.1%, Ripplr down 0.7%, Dogecoin down 4.4%, USD Coin down 0.04%, Polkadot down 3.03%, Bitcoin Cash down 3, 2%, Litecoin down 0.8%...
While some kept the growth like Ethereum up 3.2%, Cardano up 1.17%, Chainlink up 5.3%…
Total market capitalization this morning recorded at USD 1,660 billion, down slightly by 0.3%.
Bitcoin in general and the virtual currency market in particular ended a tumultuous two weeks after China, and then the US, warned it would tighten its grip on cryptocurrencies.
Former US Treasury Secretary Lawrence Summers recently compared cryptocurrencies to gold as a safe haven asset. But he does not expect consumers to choose Bitcoin as their payment, even though the currency could become an important element of e-commerce.
After the move, Elon Musk suddenly spoke in favor of virtual currency. Tesla CEO affirmed his support for cryptocurrencies in the competition with fiat money after repeatedly giving contradictory statements about Bitcoin, Dogecoin.
“This is a real battle between fiat and crypto. After careful consideration, I support cryptocurrencies ,” Musk replied.
