Crypto Market Witnesses Aggressive Volatility
There is nothing new with the crypto market being volatile. Although crashing and surging prices might not be ideal for wealth preservation, traders know how to take advantage of the rapid fluctuations to sell high and buy low to get profits.
However, volatility is still an interesting subject to analyze, understand what leads to it, its effect on the market, and how far it can go. With these elements, you will discover that crypto volatility has been aggressive since a few months ago. The volatility value kept fluctuating up and down as rapidly and often as the assets’ prices.
Will Crypto Volatility Continue in May?
According to reports by CVI (Cryptocurrency Volatility Index), the market volatility increased in April of 2021. What about May? Well, according to the trend, May might be as volatile. If you are an investor, you can analyze the market, take advantage of the volatility to maximize your profits. The idea here is to stay alert to the price movements within the market and make sound cryptocurrency investment decisions.
Keep in mind that market volatility will influence the prices of the available assets. Although the market has witnessed more volatile periods before, you will agree that the prices will not settle soon.
Cryptocurrency Prices Fluctuating Rapidly
As you probably know, Bitcoin has been dominating the crypto market ever since. It is undeniable that the leading digital coin will continue to be top in the market. Typically, other assets tend to follow BTC trends in price drops and surges. However, in today’s market, Bitcoin price is struggling to go above given resistances, as it seems to remain stuck between 2 levels – a $58,000 resistance and $48,000 support.
However, despite Bitcoins struggles, Ethereum is advancing with a positive trend since 26th April, reaching its highest at $3,523.
Ethereum started flourishing over the past few months, as the NFT market attracted celebrities, influential individuals, and some massive corporations. However, it is still struggling with high fees and scalability issues.
Keep in mind that many digital coins are outperforming BTC in terms of price performance. Doge is among such coins, surging by about 11,000% this year.
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