Today the price of Bitcoin fell to the $20,000 level.
At the time of this writing, the price of Bitcoin today was $35,857.39. It plummeted 1.86% in the last 24 hours.
Cryptocurrency prices today: On Saturday, May 7, global cryptocurrency markets continued to decline as markets closed on a choppy note following the FOMC meeting and the U.S. Federal Reserve's interest rate hike. Bitcoin, the world's largest cryptocurrency by trading volume, also fell an additional 2% on this day, falling below the $36,000 level. This was the lowest level for the cryptocurrency in more than a month. Cryptocurrency markets have remained volatile this year after traders withdrew from their investments due to the ongoing pandemic, the Russia-Ukraine war, and resulting global inflation.
At the time of this writing, the price of Bitcoin today was $35,857.39. It has plunged 1.86% in the past 24 hours, according to data from global cryptocurrency tracking website CoinMarketCap. Over the past seven days, Bitcoin, the world's largest cryptocurrency, has fallen more than 7.41%. Bitcoin lost about 10% of its value in Friday's plunge.
On the other hand, as of the writing of this article, Ether price today is trading at $2,665.99, according to data from the same website. In the last 24 hours it has fallen by 2.96%. The world's second most popular coin also lost a lot of its value on Friday. Data shows that over the past seven days, the price of Ethereum has fallen by about 5.85%.
“The results of the Federal Open Markets Committee and Federal Reserve Chairman Jerome Powell's press briefing may have a bit to do with cryptocurrency markets as the committee decides to raise interest rates by 50 basis points and lay out a plan to calm inflation. pressure was applied. Most cryptocurrency gains were short-term and after sellers returned to the market, the cryptocurrency market plunged again,” Shivam Thakral, CEO of BuyUcoin, said on Thursday.
The value of the global cryptocurrency market fell 2.05% in the last 24 hours to $1.64 trillion. Memecoins, including Dogecoin and Shiba Inu, also plummeted on Saturday. Today, Dogecoin price fell 1.08% to $0.1274. Meanwhile, today's Shiba Inu price fell 2.37% to $0.00001977.
Here are the top 10 cryptocurrencies and their prices as of May 7, 2022 (according to coinmarketcap.com data):
Bitcoin lost $35,857.39 or 1.86% in the last 24 hours.
Ethereum lost $2,665.99 or 2.96% in the last 24 hours.
Tether $1.00 or 0.00% loss in last 24 hours
BNB $376.17 or a loss of 0.82% in the last 24 hours.
USD coins lost $1.00 or 0.01% in the last 24 hours
XRP $0.5958 or 2.15% loss in last 24 hours
Solana $80.32 or a loss of 3.52% in the last 24 hours.
Cardano lost $0.7686 or 3.23% in the last 24 hours.
Terra $73.09 or a loss of 9.58% in the last 24 hours.
TerraUSD $1.00 or up 0.13% in the last 24 hours
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