Cryptocurrency Prices Today: Bitcoin, Ether, Dogecoin Fall While Chainlink, Polkadot Rise

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In cryptocurrencies, the price of the world’s largest and most popular digital token Bitcoin traded more than 2% lower today at $20,644. The global crypto market capitalization today remained above the $1 trillion mark, although it was almost flat in the last 24 hours at $1.07 trillion, according to CoinGecko.

On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, also fell over one percent to $1,573. Meanwhile, dogecoin price today traded nearly 5% lower at $0.11, while Shiba Inu was also around 2% lower at $0.000011.

“Bitcoin has returned to a bearish zone as it trades below the $21,000 level. BTC is down almost 2% since the previous day on low volume. If buyers can seize the initiative above the current level, we might see reach the $21,000 mark or we may see it drop to the $20,400 level. On the other hand, Ethereum has lost the $1,600 mark where bears have become more active in the market. If bears continue to rise, there are chances that ETH breaking out below the $1,500 level, taking the crypto towards the $1,400 zone by the end of the month,” said Edul Patel, CEO and Co-Founder, Mudrex.

The performance of other crypto prices today also declined as Binance USD, Avalanche, Solana, Tether, XRP, Terra, Tron, Litecoin, Uniswap, ApeCoin, Polygon, Cardano, Stellar prices traded lower in the last 24 hours while Chainlink , Polkadot rose.

The market value of outstanding cryptocurrencies has more than halved this year as the Federal Reserve raised interest rates, pulling back the flood of pandemic-era stimulus that led to a sharp rise in the price of risky assets. Investors’ interest in speculating in tokens has waned since prices fell sharply from their peak.

After rising to an all-time high of nearly $69,000 last November, Bitcoin’s price has been trading in a narrow range around $20,000 since June this year.

(With input from agencies)

The above views and recommendations are those of individual analysts or brokerages and not of Mint.

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