On Sunday, May 15, Bitcoin (BTC) was trading at $49,100. The capitalization of the cryptocurrency decreased over the weekby almost 15% to $ 924 billion. The pressure on the market this week turned out to be colossal. In scale, it is comparable to the March 2020 collapse.
Investors brought about 30,000 to crypto exchangesbitcoins for subsequent sale, which led to the coin falling to $46,000 in the middle of the week. Support then briefly resumed and BTC was able to return to values above $50,000.
However, on Saturday night the correction began again, and the pressure remains strong. Tesla CEO Elon Musk was the main provocateur of the volatility in the price drop.
As a reminder, on Twitter, he posted an announcement from an electric vehicle manufacturer to stop accepting bitcoin as a payment instrument. After that, the spot and derivative markets fell down.
However, the Glassnode team believes that Bitcoin,finally, I groped the local bottom. This is evidenced by the fall of the SOPR indicator (Spent Output Profit Ratio). When this indicator falls below 1, it means that investors started selling at a loss for themselves.
Profit taking is most likely completed. A similar situation was observed at the end of February. Then the SOPR index also approached zero values.
After this, the fall in the BTC rate stopped, and then the «bulls» started picking up the coin. According to experts, a similar scenario could await us as early as next week.
Where is it more profitable to buy bitcoin? TOP-5 exchanges
For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.
The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.
Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?
Rating of cryptocurrency exchanges:
| # | Exchange: | Website: | Rating: |
|---|---|---|---|
| 1 | Binance (Editor's Choice) | https://binance.com | 9.7 |
| 2 | Bybit | https://bybit.com | 7.5 |
| 3 | OKEx | https://okex.com | 7.1 |
| 4 | Exmo | https://exmo.me | 6.9 |
| 5 | Huobi | https://huobi.com | 6.5 |
The criteria by which the rating is set in our rating of crypto-exchanges:
- Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
- Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
- Feedback and support– we analyze user reviews and the quality of technical support.
- Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
- Platform Features– availability of additional features — futures, options, staking, etc.
- final grade– the average number of points for all indicators determines the place in the ranking.
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