Bitcoin Price Dips by 0.51% in 24 Hours
The cryptocurrency market is currently facing a bearish trend as major tokens including Bitcoin, Ethereum, Solana, Cardano, and Polygon take a dip in their prices. As of writing, Bitcoin decreased by 0.51% in the last 24 hours, bringing the market cap down to $45.88 billion USD. Each BTC is trading for $21,743 USD. Ethereum also experienced a 1.21% drop in its price, with the global market cap decreasing by 1.27% over the past day.
#Bitcoin Price Today: Bitcoin ($BTC) Decreases By 0.51% In The Last 24 Hours.https://t.co/PQFWXM06yC#BTC $BTC #CryptoNews
— CoinGape News (@CoinGapeMedia) February 14, 2023
Solana, Cardano, and Polygon prices also suffered dips of 0.40%, 1.78%, and 3.95%, respectively. The total crypto market volume in the last 24 hours increased by 31.10% and is currently at $55.68 billion USD, indicating a higher trading volume in the market despite the bearish trend.
Bitcoin Dominance Rises to 41.84% Amid Market Dip
Bitcoin’s dominance increased by 0.32% as compared to the previous day and now stands at 41.84%. Over the last 7 days, Bitcoin’s price fell to as low as $21,460 USD and went as high as $23,367 USD. It has decreased by 68.35% from its all-time high in November 2021. However, the price of BTC increased by 0.54% as compared to the previous day, a slip of $118 USD.
In India, each BTC token is selling for INR 17,98,461, while in Singapore, the price of each BTC token is currently 28,852 Singapore dollars. In Dubai, investors can buy BTC for 79,863 UAE Dirham.
Experts: Bearish Crypto Market Will Recover
Experts have suggested that the bearish trend is temporary, and the market is expected to recover soon. Cryptocurrency prices have been volatile, and it is important for investors to monitor the market closely and make informed decisions. As the cryptocurrency market continues to grow, the trading volume and market cap are also expected to increase in the future.
The adoption of cryptocurrency by mainstream companies and the emergence of new blockchain technologies are expected to drive the market forward. Despite the current bearish trend, the future of the cryptocurrency market remains promising.
