Market Analysis

Within 24 hours, Bitcoin’s Price Dipped 10 Percent While Reaching 3,748 Dollars

As per the reports obtained from CoinDesk Pricing data, during yesterday’s trading session, the price of the world’s largest cryptocurrency- Bitcoin went below 10 percent. With the opening of the trading hour, it opened at the rate of 4,018 Dollars, and soon it fell to 3,748 Dollars before the trading session could end. This downfall has wiped a big chunk of its recent gains that the digital currency made in the last month when it rose to the high of $ 4067.

Currently, the digital currency is trading at $3,610. This rate is almost 9 percent fall from the opening price of the cryptocurrency price within the last 24 hours, as it opened at $3,995. Bitcoin has traded 6.4 billion dollars across various crypto exchanges. The aggregate capitalization of the cryptocurrency has gone from 70 Billion dollars to 64 Billion Dollars, pulling it down 7 percent in total.

The effect could be seen on the other digital currencies too. They too faced a downturn in the last 24 hours. As per the information obtained from the Coindesk’s Crypto Economic Explorer (CEX), out of nineteen closely watched digital currencies, eighteen showed losses up to 15 percent within 24 hours time bracket. The effect could be seen on cryptocurrencies such as Litecoin (LTC), neo (NEO), and Cardano (ADA.) Cardano had to face most severe results. It incurred 18 percent loss. The total sum capitalization of this cryptocurrency market is 122 Billion dollars. It has reported a 10.2 percent fall in the last 24 hours trading session.

The world’s second largest cryptocurrency- Ripple (XRP) traded at with market cap of 13.35 Billion dollars, while Ethereum (ETH) gave it a good competition. ETH with a market benchmark of 20.98 percent held on the market cap of 13.23 Billion Dollars.

About author


Roger Nolan is a tech blogger who covers cryptocurrency and blockchain related news about the latest trends. He contributed several publications and currently working in EverCoinNews as a News Editor. he has over a 10 years of media experience. He has written for foremost media outlets, covered cryptocurrency and fintech related news.

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