Bitcoin Falls to $20,000; Ether, Solana loses up to 23% in one week
Cryptocurrency price today: The bearish run that the cryptocurrency market saw last week continued on Monday, August 22, as major coins recorded continuous falls in their values. Bitcoin, the largest crypto token by market cap, fell below $21,000, while Ether which touched $2,000 levels days ago came down to the $1,500 mark. Other cryptocurrencies including Cardano, Dogecoin, Polkadot and BNB also recorded losses as the bears appeared to grip the crypto market for unclear reasons weeks after investors finally started to see better days this year.
The global crypto market cap was threatened with a dip below $1 trillion again as it traded at $1.01 trillion, registering a 0.00 percent decrease on the day, data from CoinMarketCap showed.
Bitcoin remained in the red on the day, falling below the $21,000 mark. Bitcoin price today at the time of writing was $20,988.95, down 1.57 percent in the last 24 hours, data obtained from CoinMarketCap showed. Over the past seven days, Bitcoin prices have fallen by 12.61 percent.
On the other hand, the price of Ether today fell by 3.23 percent at the time of writing the article to a scale of $1522.21, data from CoinMarketCap showed. Over the past week, Ether prices have spiraled down by 18.92 percent, the data further showed.
“Bitcoin and Ethereum witnessed a small rally as bulls tried to recover the lost initiatives. Although BTC and ETH have lost their weekly gains, they managed to hold above their crucial support levels of USD 20,000 and USD 1,500, which indicates that bulls haven’t given up yet. A move above the current level today could result in BTC jumping back to the $22,000 level,” said Edul Patel, CEO and co-founder of Mudrex.
“On the other hand, Ethereum is currently between its $1,500 support and $1,655 resistance. It has not gathered enough strength to make a sharp move on either side. So we may see ETH trading sideways for the next few days, let Patel to.
Such sharp moves are common in the highly volatile cryptocurrency market, a Reuters report said. On June 15, bitcoin plunged more than 15 percent as investors were spooked by the collapse of a so-called stablecoin, TerraUSD, and a major crypto lender freezing customer withdrawals.
Here are the top 10 cryptocurrencies and their prices on August 22, Monday (data from coinmarketcap.com at the time of publishing this article)
Bitcoin $20,988.95 or 1.57 percent loss in the last 24 hours
Ethereum $1,522.21 or 3.23 percent loss in last 24 hours
Tether $1.00 or 0.00 percent loss in last 24 hours
USD Coin $1.00 or 0.00 percent gain in last 24 hours
BNB $289.93 or 2.68 percent loss in last 24 hours
Binance USD 1.00 or 0.05 percent gain in last 24 hours
XRP $0.3339 or 2.71 percent loss in the last 24 hours
Cardano $0.4405 or 4.28 percent in the last 24 hours
Solana $34.10 or 4.07 percent loss in the last 24 hours
Dogecoin $0.06588 or 4.95 percent loss in last 24 hours
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