Bitcoin Flat to $20,000; Ether, Polkadot gains over 4% in a day
Cryptocurrency price today: Cryptocurrency markets recovered during the day today and traded in the green The global cryptocurrency market on Friday 2 September traded marginally higher by 1.32 percent, scaling $984.29 billion at the time of writing, data from CoinMarketCap showed. Bitcoin, Ethereum and other major cryptocurrencies have made minor gains over the past 24 hours.
“The rise in the value of crypto assets was led by crypto heavyweights like Bitcoin and Ether recovering from the hawkish stance taken by the Fed chief to tackle rising inflation concerns. The crypto market seems to have digested the expected interest rate hike and the tight monetary policy indicated by the Federal Reserve, says Tarusha Mittal, COO and co-founder of UniFarm.
Bitcoin price today at the time of writing was $20,104.67, up 1.11 percent over the past 24 hours, data sourced from CoinMarketCap showed. Over the past seven days, Bitcoin prices have fallen by 6.07 percent.
“Bitcoin has been moving sideways in recent days in a tight range between USD 19,000 and USD 20,000. If selling pressure intensifies and BTC closes below the US$20,200 level, we may see BTC retest the US$20,000 mark soon,” said Edul Patel, CEO and co-founder of Mudrex.
On the other hand, the price of Ether rose today by 3.40 percent at the time of writing the article to a scale of $1,592.74, data from CoinMarketCap showed. Over the past week, Ether prices have spiraled down by 3.59 percent, the data further showed.
“Ethereum was also seen trading above the 1500 level. As the dates approach, it would be interesting to see how the upcoming merger will affect BTC and other cryptos,” Patel said.
“Crypto investors are loyal and long-term holders of crypto assets to beat inflation and create long-term wealth. Selling pressure is expected to cool down in the coming weeks as the upcoming festive season will encourage investors to park their money in digital assets for healthy returns .The weakening rupee may affect the current economic scenario in the short term as the cost of imports is expected to increase, Mittal added.
Here are the top 10 cryptocurrencies and their prices as of Friday, September 2 (data from coinmarketcap.com at the time of publishing this article)
Bitcoin $20,104.67 or 1.11 percent gain in the last 24 hours
Ethereum $1,592.74 or 3.40 percent gain in the last 24 hours
Tether $1.00 or 0.00 percent gain in last 24 hours
USD Coin $0.9999 or 0.01 percent loss in last 24 hours
BNB $278.64 or 1.01 percent gain in last 24 hours
Binance USD 1.00 or 0.03 percent loss in last 24 hours
XRP $0.3323 or 1.96 percent gain in last 24 hours
Cardano $0.4589 or 2.69 percent gain in the last 24 hours
Solana $31.61 or 1.80 percent gain in the last 24 hours
Dogecoin $0.06208 or 2.76 percent gain in last 24 hours
Read all Latest business news and Latest news here
