Despite having a boom week, Bitcoin, the most valuable cryptocurrency, sank to its seven days low. Several other altcoins that had also been rallying dropped, including the second-largest coin, Ethereum, which fell over 5%, XRP fell by 4%, and ADA took the lead with 6%. Over the last nine days, Bitcoin has seen positive momentum. From a low of $19,230 to a high of $24,280, the leading cryptocurrency has increased in value by more than 26% since July 12. Related Reading | TA: Ethereum Stuck In Key Range, Why $1,480 Is The Key Nonetheless, BTC’s most recent rise failed to surpass the biggest barrier standing in the way of Bitcoin reaching the $30K price level. Instead, the price of bitcoin began a new downward trend after failing to stabilize above the $23,000 level. BTC reversed its gains and fell below the $22,000 mark. The price is currently at $21,917.87, down more than 3% from the day before but up 5.2% from the previous week. Its current market capitalization is $418.68 billion, with a 24-hour low of 2.62%. Furthermore, Ethereum lost ground along with BTC and other cryptocurrencies as it could not maintain the $1600 level it had reached earlier in the week. CoinMarketCap data show that its price fell to $1,547.89 over the last day, a decrease of 2.5%. With Ethereum, ADA and XRP Also Experience A Decline During the past 14 days, ETH has outperformed. From the low of $1,008 on July 12 to the month’s high of ...
