Bitcoin loses half its value in latest week, struggles to soar over 30K

2022-05-29 05:03:55

(MENAFN) Bitcoin was struggling to soar over USD30,000 on Friday, as fragile exchange remains in the cryptocurrency market that witnessed nearly USD1 trillion receiving vanished in latest weeks.

Bitcoin, the world’s largest crypto by market cap, was exchanging at USD29,260 at 9.17 AM EDT (1317GMT) for a day-to-day increase of 3.7 percent.

The world’s largest altcoin, Ethereum, also was under the key resistance level of USD2,000, as it was exchanging at USD1,810 at the time for a 3.9 percent day-to-day surge.

The entire cost of the crypto market reached USD1.22 trillion currently.

The crypto market witnessed around 50 percent of its value vanish in the last six weeks, as its entire loss reached USD970 billion, from the amount of USD2.19 trillion registered on the 4th of April.

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