Bitcoin price today drops slightly
Ether, the second most popular cryptocurrency jumped 1.64 per cent in a day to hit $2,798.10
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- LAST UPDATED:MARCH 18, 2022, 12:44 IST
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Cryptocurrency Update: Bitcoin on Friday, March 18, fell slightly amid volatile markets as the Russia Ukraine tensions continued for over a month. The world’s largest cryptocurrency by market value fell 0.02 per cent in the last 24 hours to $40,755.47 at the time of writing this article, according to global crypto tracking website CoinMarketCap. It must be noted that Bitcoin gained nearly 5 per cent in the last seven days.
Ether, the second most popular cryptocurrency jumped 1.64 per cent in a day to hit $2,798.10, according to CoinMarketCap. On a weekly basis, Ether gained over 8 per cent.
Bitcoin slid below $40,000-level over the last month as the Ukraine-Russia conflict had intensified. On the other hand, gold price jumped to its highest level since June, last year. Analysts had earlier mentioned that Bitcoin may tumble further to drop below $30,000 as traders is expected to favour gold now.
“The US Federal Reserve raised interest rates for the first time since 2018, from 0.25 percent to 0.5 percent to combat the surging inflation rate. In most cases, the rise of interest rates tends to signal uncertainty for the crypto market as investors have greater access to yield from low-risk avenues of the market,” said the CoinDCX Research Team on the crypto market movement a day back.
source https://duchonsigns.wordpress.com/2022/06/02/cryptocurrency-price-today-bitcoin-dips-slightly-amid-volatile-market-ether-price-rises-2/
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