Home/ Markets / Cryptocurrency/  Cryptocurrency prices today: Bitcoin, ether, dogecoin fall; Polygon surges over 5%

In cryptocurrencies, Bitcoin price today was trading below the $19,000 mark. The world's largest and most popular cryptocurrency was trading at $19,925, down more than 3%. The global cryptocurrency market cap today was below the $1 trillion mark, as it was down more than 3% in the last 24 hours to $928 billion, as per CoinGecko.

“After following the recent run last week, Bitcoin and Ethereum fell back to the US$19,000 and US$1,100 levels, reversing their weekly gains. Ethereum has been on a downward trend since July 8th as bears are trying to dominate the market. If ETH fails to sustain above the US$1,140 level, we might see it plunge to even the US$900 as the buying strength has declined over the past few days," said Edul Patel, CEO and co-founder of Mudrex, a global crypto investing platform.

On the other hand, Ether, the coin linked to the ethereum blockchain and the second largest cryptocurrency, plunged more than 3% to $1,089. Meanwhile, dogecoin price today was trading nearly 6% lower at $0.06 whereas Shiba Inu fell over 5% to $0.000011.

Other crypto prices' today performance also declined as XRP, Solana, BNB, Litecoin, Stellar, Chainlink, Tron, Uniswap, Tether, Apecoin, Avalanche, Polkadot prices were trading with cuts over the last 24 hours whereas Polygon Matic rose more than 5% to $0.58.

Bitcoin is more likely to tumble to $10,000, cutting its value roughly in half, than it is to rally back to $30,000, according to 60% of the 950 investors who responded to the latest MLIV Pulse survey. Forty percent saw it going the other way. Bitcoin has already lost more than two-thirds of its value since hitting nearly $69,000 in November and hasn’t traded as low as $10,000 since September 2020.

The crypto industry has been rocked by troubled lenders, collapsed currencies, and an end to the easy money policies of the pandemic that fueled a speculative frenzy in financial markets. Some $2 trillion has vanished from the market value of cryptocurrencies since late last year, according to data compiled by CoinGecko.

(With inputs from agencies)

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Updated: 12 Jul 2022, 08:29 AM IST
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