The value of Bitcoin is growing tremendously as it is one of the largest and most popular Bitcoin in the world. Moreover, most people prefer to invest in Bitcoin as it is a trustworthy and reliable cryptocurrency. As of now, it is trading at US$23,076.05 in the last 24 hours with a volume of $26.59.
The market capitalization rate of Bitcoin is at $870.81 billion and goes up to up 0.77 per cent in the last 24 hours.
Ether, which is said to be the second-largest digital asset, declined at $1,695.2, with a market capitalization of almost $206 billion. However, the trade volume of Ethereum was at $14.3 billion in the last hours.
Edul Patel, CEO and co-founder of Mudrex, said, “If bulls can make a move today above the current level, we might see BTC touching the $25,000 mark soon.
Dogecoin and Shibha Inu are the two largest meme coins getting success in the crypto world. The trade volume of the Dogecoin cryptocurrency stood at $544.7 million, with a 1.2 per cent down in the last 24 hours. However, Shiba Inu is trading at $0.000012 higher at 2.5 per cent.
According to experts, the sharp decline in the price of cryptocurrencies is a sign that investors’ appetite for risk is declining. They are cautious about risky investments. Cryptocurrency is one of the most volatile financial tools due to its unknowns and volatility.
“The crypto market has been under pressure from the Federal Reserve, hiking the interest rates to combat inflation over the past few months. Bitcoin, Ethereum, and most cryptocurrencies suffered losses over the weekend after a broad sell-off following the data showing US inflation hitting a 40-year high,” said Edul Patel, Co-Founder and CEO of the crypto investment platform.
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