Bitcoin Dips to $20,000; Ether, Solana Lose Up to 23% in a Week

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Cryptocurrency Price Today: The bearish run that the cryptocurrency market saw last week continued on Monday, August 22, as major coins registered continuous drops in their values. Bitcoin, the largest crypto token by market capitalisation, came under $21,000, while Ether that reached $2000 levels days ago came down to the $1500 mark. Other crypto coins, including Cardano, Dogecoin, Polkadot and BNB also registered losses as the bears seemed to grip the crypto market due to unclear reasons weeks after investors finally began to see better days this year.

The global crypto market cap was threatened with a drop below the $1 trillion mark again as it was trading at $1.01 trillion, registering a 0.00 per cent decrease over the day, data from CoinMarketCap showed.

Bitcoin remained in red on the day and fell below the $21000 mark. Bitcoin price today at the time of writing this article was $20,988.95, down by 1.57 per cent over the past 24 hours, data retrieved from CoinMarketCap showed. In the past seven days, Bitcoin prices have fallen by 12.61 per cent.

On the other hand, Ether price today dipped by 3.23 per cent at the time of writing in article to scale $1522.21, showed data from CoinMarketCap. Over the past week, Ether prices have spiralled down by 18.92 per cent, the data further showed.

“Bitcoin and Ethereum witnessed a slight increase as bulls try to restore the lost initiatives. Even though BTC and ETH have lost their weekly gains, they managed to stay above their crucial support levels at US$20,000 and US$1,500 indicating that bulls have not given up yet. A move above the current level today, can result in BTC bouncing back to the US$22,000 level,” said Edul Patel, CEO and co founder of Mudrex.

“On the other hand, Ethereum is currently between its support at US$1,500 and resistance at US$1,655. It has not accumulated enough strength to make a sharp move on either side. So, we may see ETH trading sideways for coming few days,” added Patel.

Such sharp moves are common in the highly volatile cryptocurrency market, a Reuters report said. On June 15, bitcoin plunged more than 15 per cent as investors were spooked by the collapse of a so-called stablecoin, TerraUSD, and a major crypto lender freezing customer withdrawals.

Here are the top 10 cryptocurrencies and their prices on August 22, Monday (data from coinmarketcap.com at the time of publishing this article)

Bitcoin $20,988.95 or 1.57 per cent loss in the last 24 hours

Ethereum $1,522.21 or 3.23 per cent loss in the last 24 hours

Tether $1.00 or 0.00 per cent loss in the last 24 hours

USD Coin $1.00 or 0.00 per cent gain in the last 24 hours

BNB $289.93 or 2.68 per cent loss in the last 24 hours

Binance USD $1.00 or 0.05 per cent gain in the last 24 hours

XRP $0.3339 or 2.71 per cent loss in the last 24 hours

Cardano $0.4405 or 4.28 per cent  in the last 24 hours

Solana $34.10 or 4.07 per cent loss in the last 24 hours

Dogecoin $0.06588 or 4.95 per cent loss in the last 24 hours

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