Price analysis 5/17: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, BCH, LTC, UNI
(BTC) plummeted to an intraday low near $42,000 today, dropping 35% from its all-time high at $64,849.27. Over the weekend the selling intensified as news that Tesla (NASDAQ:) may have sold its Bitcoin holdings made waves, and even after this was proven to be untrue, Bitcoin’s market dominance had still been pulled down to a three-year low below 40%.
While this decline in Bitcoin may have scared new investors, stock-to-flow creator PlanB said the performance of the current bull phase is still better than the 2017 bull run. PlanB also warned investors to expect several 30% dips during Bitcoin’s climb to a new all-time high.
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