Bitcoin Drops Below $19,000 for the First Time Since July, Ether Turns Bearish Too

Bitcoin Drops Below $19000

Bitcoin, the world’s largest cryptocurrency by market capitalisation, has begun a steep drop, one that sees its value drop further along the lines of its June 2022 lows as investors burrow deeper into risk-off mode. The value of Bitcoin has witnessed a considerable dip of over 5 percent in the last 24 hours with its price now hovering below the $19,000 (roughly Rs. 15.20 lakh) mark across global exchanges while Indian exchanges like CoinSwitch and CoinDCX value BTC at $20,582 (roughly Rs. 16.50 lakh), 1.5 percent lower than yesterday.

Bitcoin Drops Below $19000: see the current price

On global exchanges like CoinMarketCap, Coinbase, and Binance, the price of Bitcoin stands at $18,704 (roughly Rs. 14.90 lakh) while CoinGecko data shows that BTC’s value is currently 5.3 percent lower than where it stood last Wednesday.

Heading into the week of the much-awaited ‘Merge’, Ether has surprisingly looked bearish following BTC’s price trend despite the Bellatrix upgrade.

As of now, Ether is worth $1,647 (approximately Rs. 1.30 lakh) on Indian markets, while it is worth $1,508 (about Rs. 1.20 lakh) on worldwide platforms, where the cryptocurrency has lost 8.16 percent in the last 24 hours.

Ether’s performance in the latter stages of last week saw the cryptocurrency’s value rise well above where it was the previous week. According to CoinGecko data, the world’s second-largest crypto asset has increased in value by 9.5 percent week on week.

According to Gadgets 360’s cryptocurrency price tracker, most major cryptocurrencies suffered a horrible day of sharp losses during the last 24 hours. The worldwide crypto market capitalisation fell by 5.43 percent between late Tuesday and early Wednesday.

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