Price analysis 5/30: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Price analysis 5/30: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB – Mail Bonus

After creating a dubious record of nine consecutive red weekends, Bitcoin (BTC) is trying to improve by starting a price recovery to end the losing streak. Analysts have repeatedly said that investors should not be afraid of the bear market because it is one of the best times to invest in fundamentally strong projects to prepare for the next bull stage.

CryptoQuant CEO Ki Young Ju pointed out that UTXOs, which are less than six months old, reflect 62% of the realized high, which is similar to what was seen in the March 2020 collapse. Therefore, Ki said that Bitcoin could be close to forming a circular bottom.

Daily performance of the cryptocurrency market. Source: Coin 360

In the current bearish environment, it is difficult to realize the Bitcoin array at $ 250,000 but billionaire investor Tim Draper is still bullish. Speaking at a YouTube show on May 24, Draper said that if more retailers start accepting Bitcoin, women’s participation will increase as they will buy shares using Bitcoin. According to Draper, this could increase the price of Bitcoin above its target, $ 250,000.

Since some experts are calling for a bottom in Bitcoin, is it a good time to buy? Could cryptocurrencies recover in the short term? Let’s look at the charts of the top 10 cryptocurrencies to find out.