Bitcoin Below $20,000, Other Crypto Prices Fall Today While Uniswap Gains

According to CoinGecko, the global cryptocurrency market cap was below the $1 trillion mark today, as it dropped more than 2% to $905 billion in the past 24 hours.

“The euro fell to its lowest level in the last twenty years against the US dollar yesterday, and the strength of the dollar was influencing prices in the crypto market. If buyers can hold BTC at current levels, we could trade it to USD 20,000. On the other hand, Ethereum broke the $1,100 level, which means that the bears are more powerful than the bulls. If this trend continues, we could see ETH soon We can see a drop to the US$1000 level,” said Edul Patel, CEO and co-founder of Mudrex.

Ether, on the other hand, is the coin linked to the Ethereum blockchain and the second largest cryptocurrency, fell more than 3% to $1,054. Meanwhile, Dogecoin price was trading down about 3% today at $0.06 while the Shiba Inu fell over 3% to $0.0000010.

Today’s performance of other crypto prices also declined as XRP, Solana, BNB, Litecoin, Stellar, Chainlink, Tron, Apcoin, Avalanche, Polkadot, Polygon prices were trading with cuts in the last 24 hours while Uniswap, Tether benefited.

The crypto industry has been rocked by troubled lenders, collapsed currencies and the end of the pandemic’s easy money policies that have fueled a speculative frenzy in the financial markets. According to data compiled by CoinGecko, nearly $2 trillion has disappeared from the cryptocurrency’s market cap since the end of last year.

Two Opposite Groups Are Both HODLers – Investors Bitcoin As a long-term proposition those who refuse to sell their holdings – and they are determined to repel the bears even though their portfolios are deep in the red. According to an analysis by data firm Glassnode, investors holding less than 1 bitcoin are collectively adding to their balances at a rate of 60,460 bitcoins per month, the most aggressive rate in history.

(with inputs from agencies)

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