Bitcoin Rallies Above $30,000 After Multiple Weeks of Declines - Bitcoin has shown a positive signal after many weeks without a positive return.

    On the morning of May 30, the price of Bitcoin on CoinMarketCap surpassed the $30,000 mark, up 4.41% compared to yesterday. In 24 hours, the world’s largest cryptocurrency traded as low as $28,841 and highest at $30,146. Bitcoin trading volume is about 20,453 billion USD, market capitalization is at 574 billion USD. This is the first time Bitcoin has gone more than six consecutive weeks without a positive return.

    Source: TradingView

    The increase in the price of Bitcoin led to the increase of other cryptocurrencies as well. Ethereum was at $1,870, up by 6.05%; BNB was at $315.2, up by 4.51%; Solana rose 9.54%, price is 46.28 USD; XRP was up 4.73%, priced at $0.398; Cardano was up 11.67%, price is $0.51; Dogecoin up 5.62%, priced at $0.084; ect.

    According to Edul Patel, Co-Founder & CEO of Mudrex: “Bitcoin may rise above its initial resistance at $33,000 if buyers extend their support. This growth could keep the buyers active in the market”.

    Bitcoin has been moving on a bullish on May 29, but amid current market turbulence, the downside risk is likely to continue.

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