Bitcoin Opened in red on Friday and was trading at $ 47,870.66, down 0.12 percent. However, the global market capitalization of bitcoin stood at $900.47 billion on Friday. Bitcoin’s rival currency, on the other hand, Ethereum, was trading 0.53 percent lower at $3568.72 even in the red zone. On the list of names, speaking of bitcoin’s bright prospect, the new entrant is Austrian investor and fund manager Roald-Peter Stöfferl, who said sentiment for gold is already so negative that it may hit the next all-time high. can climb. A few months. Regarding the cryptocurrency, Stofferle, managing partner of Incrementum AG, said that if bitcoin holds for the next 5 to 10 years, it could touch levels “we cannot currently imagine”. Stofferle was asked if he thinks gold is dead and whether cryptocurrencies like bitcoin have played a role in weakening the precious metal? He added that global financial markets have reached a “monetary tipping point”.
The global crypto market cap stands at $2.17 trillion, down 0.84 percent from the previous day. The total volume of the crypto market in the last 24 hours is $110.92 billion, an increase of 10.80 percent. The total volume of DeFi currently stands at $20.46 billion, which is 18.45 percent of the total 24-hour volume of the crypto market. The volume of all stablecoins now stands at $86.78 billion, which is 78.24 percent of the total 24-hour crypto market volume. Bitcoin dominance currently stands at 41.57 percent, a rise of 0.19 percent over the day.
“Early last week, Ethereum formed a distinctive double bottom pattern, indicating an uptrend cycle over a shorter time period. Ethereum, to a large extent, has managed to recover from the critical level of support, Which could potentially rise to the level of $5,000. The total ETH available on various trading platforms has also seen a significant drop. This low supply again indicates a certain price increase.” Siddharth Menon, COO of WazirX, said.
Menon highlighted that, the Altcoin market is expected to follow the Ethereum trend cycle. Litecoin (LTC) is slowly starting to signal a pattern breakout following the recent defeat at Walmart. LTC will be one of the cryptocurrencies that will be accepted by AMC, one of the largest movie theaters in the world. This only strengthens the overall belief that cryptocurrencies and blockchain technology are here to stay and will see a brighter future. decentralized and that is”
Cardano was also trading at $2.41, down 1.96 per cent. However, Cardano had a market cap of $77.45 billion. Binance was trading at $419.59, down 1.74 percent.
“The crypto spectrum witnessed some consolidation over the past 24 hours. After two consecutive days of rally, the largest cryptocurrency by market capitalization consolidated around resistance levels. Bitcoin fell after touching the $48,000 mark, and Ether A pullback was encountered around the $3600 mark. Cardano continued to hold bearish dominance as it struggled to cross the $2.50 mark. Among the top 30 cryptos by market capitalization, Avalanche and Luna were the showstoppers. That the market entered the weekend on a high note, the temporary consolidation will not bother crypto investors. Over the weekend, we may see some drastic moves between the two biggest cryptos, Bitcoin and Ethereum,” said Edu Patel, CEO and Co-Founder , Mudrex- A Global Crypto Trading Platform said.
According to Patel, the overall crypto market cap decreased marginally to around $2.18 trillion, and registered an increase of 8.2 percent in total traded volume. This signals that many crypto traders try to book profits ahead of the weekend. The weekend could finally turn bullish, as most of the biggest cryptocurrencies are consolidating near local support levels.
Here are the top cryptocurrencies and their prices as of September 17, 2021 (data from coinmarketcap.com when the article was published)
Bitcoin turns $47,870 or -0.12 percent in 24 hours
Ethereum turns $3,561.02 or -0.55 percent in 24 hours
Cardano converts $2.41 or -1.87 percent in 24 hours
Binance Coin changes $427.72 or 2.98 percent in 24 hours
Tether changes $1.00 or +0.01 percent in 24 hours
XRP changes $1.09 or -2.00 percent in 24 hours
Dogecoin converts to $0.2397 or -2.07 percent in 24 hours
USD coin $1.00 or -0.01 percent change in last 24 hours
Polkadot $36.09 or +0.57 percent converts in 24 hours
Solana $146.56 or 5.92 percent change in 24 hours
Uniswap $26.90 or +5.23 percent change in 24 hours
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