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Crypto Roller Coaster: Wild Bitcoin Dance Around USD 7,000 (UPDATED)

By Linas Kmieliauskas
Crypto Roller Coaster: Wild Bitcoin Dance Around USD 7,000 (UPDATED) 101
Source: iStock/pepifoto, Cryptonews.com

A crypto rally on Sunday was as short-lived as the market erased its gains and majority of other coins are in red now. (Updated on 16:45 UTC: updates throughout the entire text.)

After touching USD 7,500 earlier today, the most popular cryptocurrency, Bitcoin dropped to USD 6,944 (16:29 UTC) and is down by 0.29% in the past 24 hours. However, at pixel time, it kept most of its gains registered on Saturday. Bitcoin broke the USD 6,000 level only a few days ago, on May 9.

BTC price chart:

Crypto Roller Coaster: Wild Bitcoin Dance Around USD 7,000 (UPDATED) 102
Source: coinpaprika.com

Among the top 10 coins by market capitalization, only Bitcoin Cash is up in the past 24 hours. However, its gains have been also trimmed.

The total market capitalization dropped from USD 224 billion, reached earlier today, to below USD 210 billion.

Top 10 coins by market capitalization:
(16:29 UTC)

Crypto Roller Coaster: Wild Bitcoin Dance Around USD 7,000 (UPDATED) 103
Source: coinpaprika.com

Vs.

Top 10 coins by market capitalization:
(05:36 UTC)

Crypto Roller Coaster: Wild Bitcoin Dance Around USD 7,000 (UPDATED) 104
Source: coinpaprika.com

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Meanwhile, during the weekend rally, Fundstrat's Tom Lee asked his followers on Twitter, "at what price will see FOMO [fear of missing out] from those who gloated about 90% crash in USD BTC?"

His own guess is USD 10,000 and the majority of respondents agree with him:

Crypto Roller Coaster: Wild Bitcoin Dance Around USD 7,000 (UPDATED) 105

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