Cryptocurrency News

Cryptocurrency Market Price Update – Is It The Start Of Bear Market?

Cryptocurrency Market Price Update – After a dramatic drop over the weekend, the price of Bitcoin (BTC) rose to approximately $49,000 on Monday but then dropped again to $47.5k at the reporting time. According to CoinMarketCap, the world’s most renowned cryptocurrency fell 3.79 percent in the previous 24 hours to $47,499.52 on December 6. On Friday, cryptocurrency prices began to plummet as equities fell and investors rushed to the safety of Treasuries on Wall Street. Bitcoin is currently down roughly 30% from its all-time high of almost $69,000 set earlier this month.

The cryptocurrency world was rocked last week when another form of Covid-19, omicron, appeared. Bitcoin fell to a seven-week low at $54,000 on November 26, officially entering the bear market. The World Health Organization said last week that the Covid-19 omicron version has been found in 38 nations.

On December 6, the global cryptocurrency market capitalization fell 0.94 percent to $2.86 trillion. In a single day, the overall cryptocurrency market volume fell over  40% to $121.67 billion. The overall volume in DeFi was now $17.87 billion, accounting for 14.69% of the entire 24-hour volume in the crypto market. According to CoinMarketCap, the overall volume of all stable currencies was $94.49 billion, accounting for 77.66% of the entire crypto market’s 24-hour volume.

Market Price Update:

Bitcoin is now $47,594.52 – 3.74% decrease in 24 hours.

Ethereum is at $3964.20 – 5.87% decrease in 24 hours.

Binance Coin is at $542.80 – 5.61% decrease in 24 hours.

Tether is at $1.00 – 0.08% up in 24 hours.

Solana is at $179.35 – 9.79% down in 24 hours.

Cardano is at $1.26 – 8.86% down in 24 hours.

USD Coin is at $1.00 – 0.21% up 24 hours.

XRP $0.759 — 8.42% down in 24 hours.

Polkadot $25.26 – 10.97% down in 24 hours.

Terra $61.10 – 19.92% down in 24 hours.

Cryptocurrency Market Price Update - Is It The Start Of Bear Market?

Image Source: CoinMarketCap

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