Weekend Top Crypto Overview

The BTC Price Could Drop Below $16.5K Again, But How Low Can It Go?

According to cryptocurrency market data aggregator CoinMarketCap, Bitcoin's (BTC) price is up little as of press time. The current Bitcoin price is $16,753.21, up 0.33% in the last 24 hours. In the last week, the market leader's price has dropped by a further 2.56%.

Over the course of the past day and a half, Bitcoin's share of the market has shrunk by 0.32%, and it now sits at 39.73%. Another off-chain statistic that has seen a fall over the previous day is the 24-hour trade volume for Bitcoin. The 24-hour volume for Bitcoin (BTC) is around $11,784,572,436 at the time of this report, which is a reduction of 54.12% compared to the volume for the preceding 24-hour cycle.

ETH Struggles To Recover

ETH struggles to rise above $1,300. Ethereum's price has fallen slowly this year, dropping to a low of $900 and a peak of $3,800 with occasional spikes in between. Despite the recent drop, many analysts are still optimistic and predict the price of ETH to reach or even exceed $12,000 before the end of the year.?Experts say crypto's volatility has been caused by rising inflation, changing U.S. monetary policy, and the Ukraine war.

Why are SHIB and DOGE rising?

Meme-coins like Dogecoin (DOGE) and Shiba Inu (SHIB) have seen significant price increases in the past week and Elon Musk's influence potentially could be a reason. Since its humorous debut by two software engineers in 2013, dogecoin has risen rapidly, and Musk has played a significant part in this.

The coin's price in 2021 increased by almost 4,000% after he tweeted his support for it and referred to it as the "people's crypto." Investors' hopes that Musk might integrate doge into Twitter's payment system fueled the most recent price increase, according to cryptocurrency market analysts.