Cryptocurrency prices today: Bitcoin falls below $56,000, Ether falls over 4%

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Bitcoin, Ether, Litecoin and Dogecoin price

Cryptocurrency prices fell sharply as volatility remained high over the past 24 hours. The entire cryptocurrency market has witnessed a dip over the past week due to higher profit booking by investors.

Bitcoin, the world’s most popular cryptocurrency, was trading below $56,000 or over 6 per cent lower than its price 24 hours ago at 1:10 pm. The virtual coin’s market capitalisation dropped to $1.06 trillion and the 24-hour trading volume rose to $2.84 billion.

Ether also fell sharply by 4.63 per cent and was trading just above $4,000 at 1:10 pm. The cryptocurrency’s market cap fell to $475 billion and the trading volume in the past 24 hours rose to $1.81 billion.

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All other popular cryptocurrencies tanked sharply due to higher volatility, triggered by profit booking.

Commenting on the momentum, Edul Patel, CEO and Co-founder of Mudrex, a global algorithm-based crypto investment platform, said, “The volatility in the crypto market continued over the past 24 hours. The largest cryptocurrency by market cap, bitcoin, fell below the $56,000 mark briefly, initiating a sell-off across the spectrum.”

“The largest altcoin Ether was, however, less impacted as it was able to hold the $4000 support mark. Over the coming 24 hours we might see a consolidation across the crypto spectrum,” he added.

Here are the latest prices and trends of popular cryptocurrencies:

Cryptocurrency

Price (US Dollar)

24-hour change

Market cap

Volume (24 Hours)

Bitcoin

56,001.80

-6.33%

$1.06 trillion

$2.82 billion

Ether

4,054.81

-4.61%

$475.96 billion

$1.80 Billion

Dogecoin

0.221279

-5.37%

$29.21 billion

$1.78 billion

Litecoin

204.19

-7.38%

$14.09 billion

$199.05 million

XRP

1.04

-5.93%

$104.01 billion

$4.30 billion

Cardano

1.79

-3.21%

$58.71 billion

$325.73 million

DISCLAIMER: The cryptocurrency prices have been updated as of 01:20 pm and will change as the day progresses. The list is intended to give a rough idea regarding popular cryptocurrency trends and will be updated daily.

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