Cryptocurrency Today: Bitcoin Dips To $20,000; Ether Lose Up To 23%

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 capitalization, came under $21,000, while Ether that reached $2000 levels days ago came down to the $1500 mark. 

The General Crypto Market

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 percent 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 percent.

What About Ether?

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

Cryptocurrency Today: Prices

Bitcoin $20,988.95 or 1.57% loss in the last 24 hours.

Ethereum $1,522.21 or 3.23% loss in the last 24 hours.

Tether $1.00 or 0.00% loss in the last 24 hours.

USD Coin $1.00 or 0.00% gain in the last 24 hours.

BNB $289.93 or 2.68% loss in the last 24 hours.

Binance USD $1.00 or 0.05% gain in the last 24 hours.

XRP $0.3339 or 2.71% loss in the last 24 hours.

Cardano $0.4405 or 4.28%  in the last 24 hours.

Solana $34.10 or 4.07% loss in the last 24 hours.

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

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