Cryptocurrency prices Updates: Cryptocurrency values today, October 12, rose slightly, with Bitcoin, the biggest and most well-known digital currency, trading practically flat with a bullish bias at USD 19,045. As per CoinGecko, the market capitalization of all cryptocurrencies fell below the USD 1 trillion threshold today while being nearly unchanged over the previous 24 hours at USD 957 billion.
“Tuesday saw a modest decline in the price of Bitcoin and other cryptocurrencies as the market’s stronger bears prevented any room for bulls to join. For bulls, BTC has been trading close to the critical psychological support level of USD 19,000. BTC’s support level might drop to USD 18,000 if bulls fail to maintain hold of it. The volume is modest, therefore it can take some time for the bounce rebound. On the other side, after the Merge, the price of Ethereum has yet to establish a bullish trend. We might observe a rising trend if ETH can retake the USD 1,400 level. But if prices go below the present level, ETH may touch the USD 1,000 region once more “explained Mudrex CEO and Co-Founder Edul Patel.
On the other side, Ether, the second-largest cryptocurrency and coin connected to the Ethereum blockchain, also marginally increased by 0.3 percent to USD 1,281. Shiba Inu’s price increased by almost 1 percent to USD 0.000010, while Dogecoin’s price increased by over 2 percent to USD 0.05.
Avalanche, Binance USD, Polkadot, Cardano, Chainlink, Tether, ApeCoin, Solana, Litecoin, Terra, and Polygon prices were trading with slight gains over the last 24 hours, whilst Uniswap, Stellar, XRP, Tron, and Cardano prices fell. Other cryptocurrency values performed differently today.
As central banks throughout the world raised interest rates to tame growing inflation, the value of the global markets fell over the past few months. As fears of a recession increase, risky assets like cryptocurrency have been particularly severely hit.
Due to the widespread selling of digital currencies this year, cryptocurrency firms are suffering. According to data from research firm PitchBook, venture capital investment in the sector fell to its lowest level in more than a year during the third quarter. Globally, VC firms invested USD 4.44 billion in crypto companies during the quarter, a 37 percent decrease from the same period in 2021.
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