May is coming to an end and the cryptom market comes into a phase of uncertainty, which is characterized by a break in the strong upward trend at the beginning of the month. Bitcoin, which reached a new ATH from $ 111,814 on May 22nd, has decreased to 109,000. The cooling phase has contributed to a decline in the overall crypto market capitalization by 0.5 %, which is now around 3.57 trillion dollars.
Market analysts have identified several assets that could get in motion again in the last week of the month. Bitcoin, Binance Coin (BNB) and Polkadot (DOT) are the top cryptocurrencies that have to be observed, since dealers will assess whether consolidation will lead to a new rally or a wider decline in market.
Bitcoin remains the leading indicator in the market. Coincodex’s sales forecasts indicate that the asset could increase to $ 134,097 by May 31, which corresponds to an increase of 22 % compared to the current trade level. The forecast was made in the middle of a steady upward movement in mid -April, which was carried out by the growing institutional engagement and increasing optimism in relation to the regulation of cryptocurrencies in the USA.
The renewed attention of long -term investors like Strategy has contributed strongly to the rally. CEO Michael Saylor recently said that the company would buy additional Bitcoin, a sign that institutions continue to use Bitcoin. The progress in the Genius Stable Act in the Senate gives the markets security and contribute to gaining more customers.
Historical data and forecasts mentioned indicate that Bitcoin could fall to $ 130,000 or less in early June. Dealers could sell their profits or are unable to rise beyond a certain point, a trend that we have observed earlier.
Course gains will be expected for Binance Coin in the coming week. According to analysts, BNB could increase by 7.8 % to $ 726.75 by the end of May. Lately, BNB has developed primarily to how the market thinks about cryptocurrencies. Investors continue to show interest because Binance Chain is used for the operation of the platform and has demand -based applications.
Market observers follow what happens to the Binance network and are waiting for new product updates that could increase BNB use. Although it is unlikely that BNB will achieve Bitcoin’s success, it could benefit from a general market increases.
Polkadot outlook unsafe
Polkadot is still behind the other leading cryptocurrencies. According to the forecast, Dot will remain about $ 5 by the end of May. Since the end of 2024, his course has continuously fallen from its level over $ 10.
The limited course forecast shows that there is no sufficiently strong demand. This is partly due to the low development and the slower growth of the cryptoma market.
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