Price analysis 5/20: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Price analysis 5/20: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB – Mail Bonus

The steady correlation of Bitcoin (BTC) with market legacy continues to decline, especially as US stock markets continue to thrive. The Dow Jones industrial average is on track for the eighth negative week in a row and the S&P 500 is close to sinking into the bear market.

Celsius (CEL) CEO Alex Mashinsky believes Wall Street short sellers are looking for some weaknesses in cryptocurrencies to “shorten and destroy”. Mashinsky blamed the “Wall Street sharks” for overthrowing Terra (LUNA) and trying to prevent stability in Tether (USDT) and Maker (MKR) and “many other companies,” including Celsius.

Daily performance of the cryptocurrency market. Source: Coin 360

Bear markets, although painful in the short term, tend to be good buying opportunities for long-term investors. However, it is important to remember that when the next bull phase begins, not all coins will return to their former glory.

Every beef market generally has a new set of leaders; therefore, traders should try to identify the cryptocurrencies that lead the market rather than buying aftermarket. Nic Carter put it nicely when he said that everything would not return and “some die permanently.”

Could Bitcoin and altcoins break under recent lows or will bulls successfully defend their support? Let’s look at the charts of the top 10 cryptocurrencies to find out.