What's Happening in the Cryptocurrency Market? (May 20)

Here are the cryptocurrency news of May 20, 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 changes in the tax law, the CBRT's ban on cryptocurrencies for payments, and then 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 recovered 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. Bitcoin, Ethereum and other cryptocurrencies were negatively affected by the decline in the US markets. Despite all this, the main blow came from Elon Musk, the founder of Tesla. Musk announced that due to the company's carbon footprint, it 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 dropped below $ 44K. Other cryptocurrencies also declined. Cryptocurrencies, which started the week in a downward trend but recovered slightly on Tuesday, fell rapidly after China banned Bitcoin and cryptocurrencies. So much so that Bitcoin, the most valuable cryptocurrency in terms of market value, declined to $ 30,000.

How Much Is A Bitcoin?

The cryptocurrency world and blockchain are on the rise. Bitcoin recovered from the $ 30,000 level it saw yesterday and reached over $ 40,000 once again. Bitcoin, which has been traded between $ 35,010 and $ 41,946 in the past 24 hours, is trading at $ 41,820.8 at the time of writing. The unit's gain in 24 hours was recorded as 11.81 percent.

What Is The Price of Ethereum?

Losing more than a quarter of its value, Ethereum is trying to make up for its losses. ETH, which increased by 23.82 percent in Thursday's transactions, was traded at $ 2,883.08. This was the biggest increase seen since January 3. Ethereum, which has gained 12.86 percent in the last 24 hours, is being traded at $ 2,924.88 at the time of writing.

What Is The Price of Ripple?

XRP climbed to $ 1.23715, gaining 16.74 percent in transactions on Thursday. This rise was recorded as the biggest daily increase recorded since April 26. XRP, which has gained 3.48 percent in the last 24 hours, is currently trading at $ 1.23479.

How Much Was BTT?

Cryptocurrencies were traded in the green area in Thursday's transactions. One of them was BitTorrent. BTT has gained 13.40 percent in the past 24 hours and is trading at $ 0.004460 at the time of writing.

What Is The Price of CHZ?

Chiliz, which has been on the rise with the recovery that started in the crypto market, has gained 16.20 percent in the last 24 hours and is currently trading at $ 0.326247.

Latest News

Dogecoin Comment by Elon Musk: It Can Reach $ 1 Elon Musk, who leads the cryptocurrency market, tweeted about Dogecoin this time. The famous billionaire shared a photo of a $ 1 bill, saying it was his estimate of the DOGE price. Meanwhile, according to CoinMarketCap, after Bitcoin dropped from $ 40,000 yesterday to $ 30,000, DOGE traded at $ 0.3752.