The prices of most cryptocurrencies varied during trading today, Sunday, and Bitcoin returned to profit following a stormy night yesterday.
The market value of cryptocurrencies increased today by 1.28 trillion dollars, compared to 1.26 trillion dollars, yesterday.
The trading volume during the last 24 hours amounted to regarding 85.82 billion dollars.
Cryptocurrencies in general faced a major setback last night, and their prices fell dramatically.
Experts attributed the reason for the setback of Bitcoin and its sisters to the statements of Federal Reserve Chairman Jerome Powell, regarding inflation rates in the United States.
Powell described stable rates as a “keystone” for the economy, saying on Thursday that the central bank’s battle to cool inflation would “include some difficulty” as the impact of higher interest rates might be felt.
But he said the worst outcome would be for prices to continue to accelerate forward.
Bitcoin price today
The price of Bitcoin (BTC), the largest and most popular digital currency in the world, rose today by 1.01% to reach $29,743.63.
The highest level reached by the price of Bitcoin was on the 10th of last November, when it recorded 68 thousand and 992 dollars.
Many investors took advantage of the massive drop in Bitcoin over the past week, and began “buying down” amid a bet on the strength of cryptocurrencies to fend off long-term inflation.
Cryptocurrency rates today
The price of the Ethereum coin (ETH) decreased by 0.74% to record $2,023.19.
The price of Binance coin BNB rose by 0.45% to $292.80.
The price of the XRP currency fell by 2.65% to $ 0.418601.
The price of the Cardano coin fell by 1.39%, to record 0.53 dollars.
The price of Polkadot gained regarding 7.25% to reach $11.09.
The price of DOGE/USD fell by 1.40% to reach $0.087353 levels.
Cryptocurrencies are considered as a non-cash digital payment method, which is managed and traded in a decentralized online payment system that is highly protected away from the control and control of banks.
According to the statistics of the cryptocurrency exchange Crypto.com, there were approximately 300 million people who owned cryptocurrency by the end of 2021.
