CRYPTOCURRENCY PRICES UPDATES: The world’s largest and most well-known digital cryptocurrency, Bitcoin, had a small increase in price today, rising by around 0.3 percent to USD 19,193. The price of Bitcoin has been fluctuating in a small range of about USD 20,000 since June after rising to an all-time high of about USD 69,000 in November.
The second-largest cryptocurrency, Ether, which is connected to the Ethereum network, increased by more than 1 percent to USD 1,299 in contrast. Shiba Inu was down approximately 0.5 percent to USD 0.000010, while Dogecoin was almost 1 percent lower at USD 0.05 today.
Avalanche, Binance USD, Polkadot, Cardano, Chainlink, Tether, ApeCoin, Solana, Litecoin, Tron, Uniswap, Cardano, and Polygon prices were trading with modest increases over the last 24 hours while XRP, Terra, and Stellar declined. The behaviour of other cryptocurrency values today was varied.
“Despite falling by 1.87 percent during the previous week, Bitcoin has outperformed the other altcoins. The price of BTC is not being controlled by either bulls or bears. There might not be any sudden movements in such a scenario. For a few days, BTC may fluctuate in a range between USD 19,000 and USD 19,200. BTC may test the USD 20,000 range this month because the price is fixed above the USD 19,000 level. Ethereum, on the other hand, was trading at around USD 1,300. We can soon see ETH exceeding USUSD 1,400 if it can sustain above the present price, according to Edul Patel, CEO and Co-Founder of Mudrex, a Global Crypto Investment Platform.
Even though it had increased by almost 1 percent in the previous 24 hours to USD 969 billion, the worldwide crypto market valuation today was less than USD 1 trillion, according to CoinGecko.
The volatility index for Bitcoin has recently dropped to its lowest level since April, reaching 61 on Friday, a significant decline from the 140 it reached in May after the collapse of the Terra stablecoin ecosystem.
As central banks throughout the world raised interest rates to tame growing inflation, the value of the global markets fell over the past few months. As fears of a recession increase, risky assets like cryptocurrency have been particularly severely hit.
Bitcoin Investment – Understanding the Pros and Cons
How Bitcoin Can Affect Your Financial Stability
Is Bitcoin a Challenge for Financial Institutions?
Add a Comment