Bitcoin Today – May 2021
Bitcoin price in May 2021, Altcoins, Ethereum, Dogecoin, seem to outpace Bitcoin
The price of Bitcoin in May 2021
Bitcoin, while still massively popular and important, has recently been dwarfed by Ethereum and Dogecoin.
Although Bitcoin has largely been left out of the development of altcoins, it remains the best-known and most dominant cryptocurrency. Bitcoin, which was the dominant cryptocurrency, now accounts for 46% of the combined market capitalization of cryptocurrencies, according to CoinMarketCap.
The market value of BTC/USD is too close to the $60,000 resistance line. Looking at the technical indicator, it seems that the market value of BTC / USD has to trade values below that price. According to the Relative Strength Index (14) provided by TradingView, BTC / USD is showing signs of weakness in its downtrend.
It seems that the price of Bitcoin is in a long-term downtrend, and if the current support level of the pennant pattern. A look at the daily chart shows the formation of a bearish candlestick pattern.
Ethereum has more active blockchain addresses than Bitcoin.
Glassnode has charts that now show that Ethereum has more active blockchain addresses than Bitcoin.
Ethereum has significantly outperformed Bitcoin this year. It is up about 442% versus just 90% for Bitcoin. Ethereum has many more uses than just a store of value. Its blockchain is used more prolifically than Bitcoin.
This could be one of the main reasons why Ethereum has significantly outperformed Bitcoin, as many altcoins provide more than just a simple payment mechanism and value storage function as Bitcoin does.
As of April 10, Ethereum had 580,744 active addresses, while Bitcoin was at 509,074.
In other words, it is being used in more smart contracts, data warehousing, NFT, and other blockchain uses, including transfers, than Bitcoin. That gives your currency a true underlying value that can start to come close to competing with Bitcoin.
Bitcoin price in May 2021, Altcoins, Ethereum, Dogecoin, seem to outpace Bitcoin
The price of Bitcoin in May 2021
Bitcoin, while still massively popular and important, has recently been dwarfed by Ethereum and Dogecoin.
Although Bitcoin has largely been left out of the development of altcoins, it remains the best-known and most dominant cryptocurrency. Bitcoin, which was the dominant cryptocurrency, now accounts for 46% of the combined market capitalization of cryptocurrencies, according to CoinMarketCap.
The market value of BTC/USD is too close to the $60,000 resistance line. Looking at the technical indicator, it seems that the market value of BTC / USD has to trade values below that price. According to the Relative Strength Index (14) provided by TradingView, BTC / USD is showing signs of weakness in its downtrend.
It seems that the price of Bitcoin is in a long-term downtrend, and if the current support level of the pennant pattern. A look at the daily chart shows the formation of a bearish candlestick pattern.
Ethereum has more active blockchain addresses than Bitcoin.
Glassnode has charts that now show that Ethereum has more active blockchain addresses than Bitcoin.
Ethereum has significantly outperformed Bitcoin this year. It is up about 442% versus just 90% for Bitcoin. Ethereum has many more uses than just a store of value. Its blockchain is used more prolifically than Bitcoin.
This could be one of the main reasons why Ethereum has significantly outperformed Bitcoin, as many altcoins provide more than just a simple payment mechanism and value storage function as Bitcoin does.
As of April 10, Ethereum had 580,744 active addresses, while Bitcoin was at 509,074.
In other words, it is being used in more smart contracts, data warehousing, NFT, and other blockchain uses, including transfers, than Bitcoin. That gives your currency a true underlying value that can start to come close to competing with Bitcoin.
© 2024 Cryptopress. For informational purposes only, not offered as advice of any kind.
Latest Content
- How to Start Accepting Crypto Payments as a Business
- MemeCore Secures Strategic Investment from Presto Labs to Advance Meme 2.0 Blockchain Ecosystem
- U.S. House Passes GENIUS Act: A Milestone for Crypto Regulation
- Ethereum Soars Past $3,300: Institutional Inflows and On-Chain Activity Drive Bullish Momentum
- XRP and Memecoins Surge as Crypto Market Embraces Regulatory Clarity
Related
- Crypto Events Archive A growing list of past crypto and blockchain events from around the world. Conferences, workshops, meetups, hackathons, conferences....
- Dogecoin What is Dogecoin?...
- What is behind the Dogecoin boom? The Dogecoin phenomenon is not something that could have happened without the support of its dedicated community, coders, investors, and pioneering sellers. All of those contributions came together to make this new type of cryptocurrency come to life as we...
- News Summary: Dogecoin Any investor with even a passing interest in cryptocurrency is probably wondering if they should buy Dogecoin now. We will start by explaining briefly what Dogecoin really is. [1] Dogecoin Price What is Dogecoin? Dogecoin is a decentralized, peer-to-peer digital currency,...