The crypto market is in red today, the price of major cryptocurrencies has fallen below 8 percent, economist Peter Schiff says that the markets rarely give investors much time to buy the bottom. Bitcoin has been trading near $20K for the past 12 days.
HIGHLIGHTS
- The price of Bitcoin falls below $19,000
- Ethereum fell below 8 percent
- The global cryptocurrency market cap has dropped below $1 trillion
The price of the world’s most popular cryptocurrency, Bitcoin (BTC) has fallen below the $19,000 level. Bitcoin fell 5.29 percent in the last 24 hours and was trading at $18,724.54. Notably, the current price of Bitcoin is the lowest since December 2020.
On this current fall, the United States-based economist Peter Schiff says, “Markets rarely give investors much time to buy the bottom. #Bitcoin has been trading near $20K for the past 12 days. More likely $20k will prove to be a false bottom, giving suckers plenty of time to climb aboard a sinking ship. Better to abandon ship before the bottom drops out.”
Schiff further noted that not only is Bitcoin crashing, but its dominance has fallen to 38.1 percent, its lowest since June of 2018. “Competing with almost 21,000 other intrinsically worthless digital tokens, NFTs and crypto-related equities is taking a toll. Even if Bitcoin is scarce, its alternatives are not,” he said.
Crypto prices Today
Meanwhile, the price of Bitcoin (BTC) fell 5.55 percent in the last 24 hours; while it was trading at $18,715.94 at the time of writing (0930 IST). Ethereum (ETH) was trading at $1,506.78 with a fall of 8.23 percent. Binanace Coin (BNB) fell 6.29 percent in the last 24 hours while; it was trading at $262.66. Cardano (ADA) fell 7.29 percent while; it was trading at $0.4597.
Meme coins Today
Dogecoin (DOGE) fell 7.65 percent in the last 24 hours, and it was trading at $0.05845; while Shiba Inu (SHIB) fell 5.44 percent in the last 24 hours while it was trading at $0.00001197. Dogelon Mars (ELON) was down 7.33 percent in the last 24 hours; while it was trading at $0.0000002655.
Crypto market cap Today
The total market cap of the crypto market stood at $935.84 billion, falling 5.49 percent in the last 24 hours. While the trading volume was $87.20 billion, rising 32.59 percent in the last 24 hours. Bitcoin maintained a market dominance of 38.27 percent with an increase of 0.02 percent over the day.
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