What's Happening in the Cryptocurrency Market? (May 18)

Here are the cryptocurrency news of May 18, the most up-to-date developments, here are the most appreciating and depreciating cryptocurrencies...

Interest in cryptocurrencies has increased significantly during the coronavirus outbreak. However, investors began to closely monitor the movements of important cryptocurrencies such as Bitcoin, Ethereum and Ripple. The most curious cryptocurrencies by investors; How did Bitcoin, Ethereum, Ripple start the day? The cryptocurrency market is very active with the recent news flow. The statements of US President Joe Biden regarding the changes in the tax law, the CBRT's ban on cryptocurrencies from payments, and the addition of crypto asset service providers to the liabilities section by publishing a new regulation with the presidential decision had a great impact on the cryptocurrency market. On the other hand, the negatively affected cryptocurrency market started to recover after US Treasury Secretary Janet Yellen said that interest rates may need to increase moderately to prevent the US economy from overheating due to high government spending. However, Bitcoin, Ethereum and other cryptocurrencies were negatively affected by the decline in the US markets. However, the real blow came from Tesla founder Elon Musk. Musk announced that due to the it’s carbon footprint, Tesla will no longer accept Bitcoin as a payment instrument. The decline that started after this announcement took another blow with Musk's last post. BTC declined below $ 44K. Other cryptocurrencies also declined.

How Much Is A Bitcoin?

Bitcoin is experiencing one of the most important fixes in its history. Bitcoin, which declined after the posts of Elon Musk, continues its losses on the second day. BTC, which has lost 3.01 percent in the last 24 hours, is trading at $ 43.117.3 at the time of writing. According to the report published by Glassnode, the price drop in Bitcoin is partly due to panic sales by inexperienced investors.

What Is The Price of Ethereum?

As ETH price consolidates, it looks like it will clear the $ 3,500 resistance level in the near future. Ethereum, which fell sharply after the fall of Bitcoin, has gained 1.93 percent in the last 24 hours and is trading at $ 3,449.05 at the time of writing.

What Is The Price of Ripple?

Challenging the cryptocurrency market painted in red, XRP has gained 5.02 percent in the last 24 hours and is trading at $ 1.54378. It is stated that the latest developments in the Ripple case have affected this rise.

How Much Was BTT?

BitTorrent, which lost value for days, recovered in Tuesday's transactions and gained 1.94 percent in the last 24 hours and started to be traded at $ 0.005406.

What Is The Price of CHZ?

The depreciation in Chiliz continues. CHZ has lost 2.52 percent in the past 24 hours. CHZ, which did not make much profit to its investors, is currently trading at $ 0.409733.

Latest News

Coinbase Introduced Its New Browser Extension With the new browser extension announced by the cryptocurrency exchange Coinbase, it was stated that users can connect to decentralized applications and decentralized finance (DeFi) more easily and securely on the desktop. In a statement made by Coinbase, Coinbase, which has over a million customers, stated that this obligation has been eliminated for customers who have to scan QR codes using their mobile phones every time they connect to access these applications from the desktop, and that DeFi applications have been made easier to access and use. Elon Musk Falls Behind in the World's Richest List The statements of Tesla and SpaceX's founder Elon Musk caused him to suffer a great loss. The famous billionaire also lost his title as "the world's second richest businessman". Musk had risen to the first place thanks to Tesla shares that took flight with an extraordinary performance last year. Musk, who caused the decline of crypto due to his statements about Bitcoin, caused Tesla to lose value, which also has recently decreased in vehicle sales. While the company's shares lost 2.2 percent, Musk lost the title of "the second richest person in the world" to French businessman Bernard Arnault, chairman of the board of luxury goods seller LVMH.