empty
InstaForex Loprais Team - Official participant of the Dakar rally
InstaForex Loprais Team - Official participant of the Dakar rally
This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.
Start as Beginner
How to start trading
Useful information
Training and recordings
InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.
Become Investor
PAMM System
ForexCopy System
Passive investments
Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.
Become Partner
Main Page
Partner Area
Advantages for Affiliates
Registration
This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.
All Promo Campaigns
Bonuses
Contests
Events
Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.
Full details
Forums
We are in social networks
Forex humour
Forex Portal
InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.
Learn More
History
Why Choose Us
InstaSport
Regulation
Company News
Awards
InstaForex Stars
InstaForex Offline
Headquarters
Key documents
Social Responsibility
15.06.2022 12:22 PM
The bitcoin agony has ended. How long?
Open trading account Open demo account

The first cryptocurrency began with a slight fall on Wednesday morning, and later moved to a sideways movement. At the time of writing, bitcoin is trading at $21,196. According to digital asset tracking website CoinMarketCap, over the past 24 hours, bitcoin has had a low of $21,450 and a high of $23,018.

This image is no longer relevant

A day earlier, bitcoin updated a local low and collapsed to the level of $20,950.

The loud drop in the main virtual asset, which the crypto market has been observing since the beginning of the week, has become the highest since December 2020. Recall that last Friday BTC was trading at $30,000. Thus, in just three trading sessions, the BTC rate fell by almost 30%.

The price of bitcoin decreased by 15.59% in May. Over the past two months, the cost of BTC has fallen 1.6 times - to $29,000 from $45,800. At the same time, over the past spring, the price of bitcoin has dipped by 27%.

Since last November, when the coin updated its historical record, soaring above $69,000, the cryptocurrency has already lost about 70% in price. At the same time, many other virtual assets have plummeted from their historical levels.

Altcoin market

On Wednesday, the main competitor of bitcoin, the altcoin Ethereum, also started the trading session with a slight decline, which later turned into a sideways movement. So, at the time of writing, the value of the coin reaches $1,185.

In the last days of May, the price of altcoin slipped through the $2,000 level, but with the onset of summer, it lost its desire for optimism and began to permanently decline.

As for cryptocurrencies from the top 10 by capitalization, the highest result for the past 24 hours was recorded by Solana (+4.65%).

According to the results of the past week, all coins from the top ten showed a negative movement dynamics. At the same time, the main outsider here was the digital asset Ethereum (-33.04%).

According to the world's largest virtual asset data aggregator CoinGecko, over the past 24 hours, Helium coin (+17.8%) topped the list of top 100 most capitalized digital assets, and Chain (-32.2%) took the first place in the drop list.

Following the results of the past week, the main outsider among the top 100 cryptocurrencies was the Chain coin (-44.5%), and the key favorite was LEO Token (+1.0%).

Is the bottom close?

As for the opinion of cryptanalysts regarding the future behavior of the digital coin market, the CEO of Galaxy Digital virtual asset management company Mike Novogratz said that BTC and Ethereum are going through a price bottom right now.

Thus, the well-known bitcoin bull believes that the local bottom of Ethereum is at $1,000, and the lowest for bitcoin is located near the $20,000-$21,000 mark. Thus, the crypto market has a permanent downward movement ahead.

Earlier, the former head of the BitMEX cryptocurrency exchange, Arthur Hayes, said that the vital task for bitcoin now is to maintain a key level of $20,000. Otherwise, Hayes believes that the digital asset market will face another wave of sell-off.

Recently, a popular cryptanalyst and microblog host under the nickname Rekt Capital said that bitcoin touching the curve reflecting the average cost of a coin over the past 200 days indicates that the cryptocurrency is approaching a local bottom. In the very near future, the expert suggests, bitcoin may fall below $20,000.

Another well-known crypto market expert, Lark Davis, believes that bitcoin is already at the price bottom. As a confirmation of his opinion, he draws the attention of traders to the fact that in recent days, bitcoin looks more oversold than in the process of declining to local lows in 2018. Following the current collapse of the crypto market, Davis believes, its steady growth will follow.

At the same time, Vijay Ayyar, vice president for corporate and international development of the Luno crypto exchange, does not agree with his colleagues and claims that the digital asset market will need a lot of time to reach the bottom, which means that in the next couple of months the cost of BTC and other crypto assets will steadily fall.

Irina Maksimova,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
All Analytics
Technical analysis
Technical Analysis of Intraday Price Movement EUR/GBP Cross Currency Pairs, Monday April 21, 2025 From what is seen on the 4-hour chart, the EUR/GBP cross currency pair appears to be moving above the EMA (100), which indicates that Buyers dominate the currency pair
Arief Makmur
04:19 2025-04-21 +02:00
1165
Technical analysis
Technical Analysis of Intraday Price Movement USD/JPY Main Currency Pairs, Monday April 21, 2025. With the appearance of Convergence between the price movement of the main currency pair USD/JPY with the Stochastic Oscillator indicator and the position of the EMA (100) which is above
Arief Makmur
04:19 2025-04-21 +02:00
1135
Breaking Forecast Trading Plan Cryptocurrencies USD/RUB Russian Economy Video Analysis
Trading Instruments
EURUSD GBPUSD USDCHF USDCAD USDJPY AUDUSD EURGBP EURJPY NZDUSD EURNZD Silver Gold #CL #USDX COVID-19 Bitcoin
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

US Market News Digest for April 18

Donald Trump ratcheted up his criticism against Federal Reserve Chairman Jerome Powell, once again calling for an immediate interest rate cut. This renewed political pressure adds to the tensions surrounding
Ekaterina Kiseleva 12:09 2025-04-18 UTC+2

When Giants Fall: How Alphabet and UnitedHealth Decisions Hurt the Market

Trading on U.S. stock markets ended in disarray on Thursday, with positive news from tech giants and pharma companies colliding with interest rate concerns. Market participants wavered between hopes
Thomas Frank 11:56 2025-04-18 UTC+2

Powell in danger? Can Trump fire Fed Chair and what does that mean for markets?

Donald Trump has once again set his sights on the Federal Reserve, accusing its chairman Jerome Powell of failing in monetary policy and threatening to fire him. But what lies
Аlena Ivannitskaya 08:43 2025-04-18 UTC+2

US Market News Digest for April 17

Jerome Powell's latest remarks triggered a sharp sell-off in US equities. Both the S&P 500 and the Nasdaq posted notable losses after the Fed chairman said that interest rates
Ekaterina Kiseleva 11:21 2025-04-17 UTC+2

When it all went wrong: Nvidia under pressure, stocks fall, Powell waits for clarity

Powell says economy slowing in Q1, may wait for more clarity European stocks slip ahead of ECB policy decision Nvidia warns of blame over US chip export restrictions to China
Thomas Frank 10:27 2025-04-17 UTC+2

US stock market in red zone: Dow Jones – 0.4%, Nasdaq – 0.1%. Upbeat corporate reports do not save Wall Street

The US stock market closed Tuesday with minor losses, as uncertainty over trade duties continued to weigh on investor sentiment. Consumer and healthcare stocks were particularly affected, though strong earnings
11:38 2025-04-16 UTC+2

US Market News Digest for April 16

Wall Street ended the session in the red. Shares of giants Boeing and Johnson & Johnson took the biggest hit as uncertainty around tariff policy continues to weigh on investor
Ekaterina Kiseleva 11:12 2025-04-16 UTC+2

Markets in the Red: Dow -0.4%, Nasdaq -0.1% as Strong Reports Fail to Save Wall Street

Bank of America Gains After Higher Q1 Earnings Uncertainty Over Tariff Outlook Still High Markets Ripple on U.S.-China Debate Indices: Dow Down 0.4%, S&P 500 Down 0.2%, Nasdaq Down 0.1%
Thomas Frank 07:54 2025-04-16 UTC+2

Apple soars. Stock investors alert to Netflix' report

US stocks are printing modest gains as tariffs on some electronic goods have been delayed. Tech stocks are outperforming European and Asian counterparts, with Apple shares jumping. Goldman Sachs
11:42 2025-04-15 UTC+2

US Market News Digest for April 15

The Trump administration has made concessions: tariffs on electronics have been temporarily lifted, and looser conditions for the auto industry are under consideration. These moves triggered a positive reaction —
Ekaterina Kiseleva 11:29 2025-04-15 UTC+2

Top analytics

Relevance up to 21:00 2025-04-22 UTC--4
Technical Analysis of Intraday Price Movement USD/JPY Main Currency Pairs, Monday April 21, 2025.
04:19 2025-04-21
Technical analysis
Relevance up to 21:00 2025-04-22 UTC--4
Technical Analysis of Intraday Price Movement EUR/GBP Cross Currency Pairs, Monday April 21, 2025
04:19 2025-04-21
Technical analysis
Relevance up to 10:00 UTC--4
US Dollar: Weekly Preview
01:01 2025-04-21
Fundamental analysis
Relevance up to 07:00 UTC--4
Euro: Weekly Preview
01:00 2025-04-21
Fundamental analysis
Relevance up to 09:00 UTC--4
British Pound: Weekly Preview
01:01 2025-04-21
Fundamental analysis
Can't speak right now?
Ask your question in the chat.
Widget callback
Callback widget
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.