Bitcoin Tests $18,000 Levels, Ether, Polkadot Down by 9% in a Day
Cryptocurrency Price Today: The global cryptocurrency markets on Wednesday, September 7, continued to bleed red as the world’s largest crypto coin, Bitcoin, slipped below the $18,000 mark and all major coins, barring US-pegged stablecoins, followed suit. The high volume of the market indicated a selloff. On the other hand, the global cryptocurrency market slumped by almost 6 per cent to scale $935.13 at the beginning of the day.
“The crypto market volume soared by almost 34 per cent which suggests that investors are buying the dip in certain crypto assets including Bitcoin. The overall crypto market cap is also down by over 1 per cent and is just below the $1 trillion mark,” said Shivam Thakral, CEO of BuyUcoin.
Bitcoin price today dipped by 5.75 per cent to scale $18,769.21 at the time of writing this article. On Tuesday, it fell down to its lowest levels in two months.
“Bitcoin plummeted to US$18,600 on Tuesday, the weakest level since July 13th. The next resistance sits at the US$19,400 level. But if BTC does not recover above the US$19,000 level, the immediate support would be US$18,650 and later US$18,500,’ said Edul Patel, CEO and co founder of Mudrex.
Meanwhile, Ethereum price today dropped by 8.99 per cent in the last 24 hours to scale $1,515.09 at the time of writing this article.
“Ethereum and most cryptos in the market have been going through a bearish trend since the start of this week. One of the major reasons for the downward trend could be the long U.S. Labor Day holiday weekend and investors moving away from the riskier assets,” added Patel.
“Bitcoin slipped below the $19,000 mark while Ethereum slipped below the 1600 mark and is hovering around $1500 currently . The hash rate of Ethereum classic is at its highest which indicates superior security and a more stable network. Altcoins like TRX, DOT, and MATIC showed a marginal dip in their value with AVAX dipping by 9 per cent,” said Shivam Thakral.
“There is a lot of euphoria around the upcoming Ethereum merge which is driving the buying activity in the market. The crypto market is also facing pressure due to the looming European energy crisis and other macroeconomic factors,” he noted.
Here are the top 10 cryptocurrencies and their prices on September 07, Wednesday (data from coinmarketcap.com at the time of publishing this article)
Bitcoin $18,769.21 or 5.75 per cent loss in the last 24 hours
Ethereum $1,515.09 or 8.99 per cent loss in the last 24 hours
Tether $1.00 or 0.00 per cent gain in the last 24 hours
USD Coin $1.00 or 0.00 per cent gain in the last 24 hours
BNB $263.90 or 6.04 per cent loss in the last 24 hours
Binance USD $1.00 or 0.04 per cent gain in the last 24 hours
Cardano $0.4631 or 8.47 loss per cent in the last 24 hours
XRP $0.3195 or 4.78 per cent loss in the last 24 hours
Solana $30.99 or 6.39 per cent loss in the last 24 hours
Dogecoin $0.5895 or 7.01 per cent loss in the last 24 hours
Read all the Latest Business News and Breaking News here
