Bitcoin price today fell to the $20,000 mark
Bitcoin price today was standing at $35,857.39 at the time of writing this article. This was a sharp plunge of 1.86 per cent over the last 24 hours
Cryptocurrency price today: The global cryptocurrency market on Saturday, May 7, continued to spiral further down as markets ended on a choppy note after the FOMC meeting and the US Federal Reserve’s rate hike. The world’s largest cryptocurrency by volume, Bitcoin, also sank further 2 per cent on the day to go below the $36,000 mark. This was the lowest the crypto coin has been in over a month. The cryptocurrency market has remained volatile this year after sustained attacks of the pandemic, Russia-Ukraine war and a resultant global inflation that has made traders draw back from investing in crypto coins.
Bitcoin price today was standing at $35,857.39 at the time of writing this article. This was a sharp plunge of 1.86 per cent over the last 24 hours, according to data from global cryptocurrency tracking website CoinMarketCap. In the last seven days, Bitcoin, the world’s largest cryptocurrency, has shed over 7.41 per cent. Bitcoin lost around 10 per cent of its value on Friday following a steep cut.
On the other hand, Ether price today was trading at $2,665.99 while writing this article, as per data from the same website. This was down by as much as 2.96 per cent in the last 24 hours. The world’s second most popular coin had also shed much of its value on Friday. In the last seven days, Ether price dipped around 5.85 per cent, as per data.
“The outcome of the Federal Open Markets Committee and press briefing by Fed chief Jerome Powell gave a slight push to the crypto market as the committee decided to raise the interest rate by 50 basis points and chalked out plans to cool down inflation. Most of the crypto gains were short-lived and the crypto market nosedived again after sellers returned to the market,” said Shivam Thakral, CEO of BuyUcoin on Thursday.
The value of the global cryptocurrency market slipped by 2.05 per cent over the last 24 hours to scale $1.64 trillion. Memecoins including Dogecoin and Shiba Inu plunged on Saturday as well. Dogecoin price today was standing at $0.1274, down by 1.08 per cent. Meanwhile, Shiba Inu price today was at $0.00001977, down by 2.37 per cent.
Here are the top 10 cryptocurrencies and their prices on May 7, 2022 ( According to data from coinmarketcap.com)
Bitcoin $35,857.39 or 1.86 per cent loss in the last 24 hours
Ethereum $2,665.99 or 2.96 per cent loss in the last 24 hours
Tether $1.00 or 0.00 per cent loss in the last 24 hours
BNB $376.17 or 0.82 per cent loss in the last 24 hours
USD Coin $1.00 or 0.01 per cent loss in the last 24 hours
XRP $0.5958 or 2.15 per cent loss in the last 24 hours
Solana $80.32 or 3.52 per cent loss in the last 24 hours
Cardano $0.7686 or 3.23 per cent loss in the last 24 hours
Terra $73.09 or 9.58 per cent loss in the last 24 hours
TerraUSD $1.00 or 0.13 per cent gain in the last 24 hours
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