As the cryptocurrency market’s corrective process continues, the price of Bitcoin (BTC) dropped below $34,000 on major exchanges, including Binance. At the time of press, Bitcoin was seen trading at $ 35,441 red by 7.17%. Market capital of $666,027,333,944 as on 23 May 2021.
Bitcoin, the world’s largest and most well-known cryptocurrency, is down 47.4% from its April 14 high of $64,895.22. On Sunday, bitcoin had dropped 8.9% to $34,156, a loss of $3,344.54 from its previous close.
Bitcoin is a decentralised cryptocurrency that was first introduced by an individual or group of people using the pseudonym Satoshi Nakamoto in a whitepaper published in 2008. It was released in January 2009, just a few months later.
Elon Musk expressed tepid support for cryptocurrencies in a Tweet this morning, following a debilitating market decline that may be picking up steam this weekend.
The true battle is between fiat & crypto. On balance, I support the latter.
— Elon Musk (@elonmusk) May 22, 2021
Ether (ETH) trading around $2,150. In the red 11.40% over the previous 24 hours.
Dogecoin trading around $0.32. In the red 7.77% over the previous 24 hours.
Ripple trading around $0.80. In the red 13.64% over the previous 24 hours.
Cardano trading around $1.30. In the red 13.77% over the previous 24 hours.
While Bitcoin has been hit by a series of negative news headlines, some crypto investors are still celebrating significant gains in the altcoin bull market of 2021.
For investment related articles, business news and mutual fund advise
You have already subscribed