Bitcoin is the #1 Coin to Watch for the Week of May 16 – May 22, 2022
At the beginning of Week 20, the total cryptocurrency market capitalization stands at a mere $1.38 trillion, which means that the valuation of all the cryptos in circulation has decreased by more than $250 billion last week. One of the main reasons for this is the UST de-peg and subsequent collapse of Terra’s LUNA, once a Top 10 cryptocurrency. Furthermore, even Tether (USDT), the largest stablecoin by market capitalization, briefly lost its $1 peg. These events served as a reminder of how risky cryptocurrency investments can be and several investors apparently decided to liquidate their crypto holdings as all Top 30 coins ended the week in red numbers, some down by more than 35%. If you are looking for best opportunities in the bearish market, here are some ideas which coins to look into.
