Bitcoin price was trading marginally higher than its value 24 hours ago, but its valuation has dipped below $50,000. It was trading at $49,601.28 at 11:45 am and its market capitalisation stood at $932.73 billion. The trading volume in the last 24 hours was 1.16 billion.
Bitcoin Price Retreats After Crossing $50,000
Cryptocurrency prices weakened marginally over the past 24 hours, but the momentum remains strong at the moment and investors are expected to end this week with decent trading gains.
Ether was still going strong as it was trading over 1.30 per cent higher than its price a day ago. It was trading at over $3,800 and its market capitalisation is close to crossing $450 billion. The 24-hour trading volume remains similar to Bitcoin.
Not just benchmarks but a number of altcoins including Cardano are set to enter the weekend on a high note. While Cardano fell over 3 per cent today, it still remains close to $3.
Commenting on the cryptocurrency market, Edul Patel, CEO and Co-founder of Mudrex, a global algorithm based crypto trading platform, said, “Bitcoin shot past the $50,000 mark, and this got the crypto investors pumped up. We witnessed volume traded across exchanges shooting up.”
“Although Bitcoin price faced a minor consolidation after the $50k mark and consolidated, the altcoins had an even better session. Ether shot past the $3800 mark, and the third-largest crypto, Cardano, went past the $3 price point,” he added. “Investors would be pretty happy entering the weekend with decent gains.”