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HomeBusinessBitcoin slips to $37,837 as cryptos turn bearish

Bitcoin slips to $37,837 as cryptos turn bearish

The cryptocurrency market turned bearish on Sunday, with market capitalisation shedding 0.5 percent to reach $1.81 trillion.

As of 1420 hours GMT, the largest cryptocurrency Bitcoin’s (BTC) price shed 0.75 percent to reach $37,837. With this decrease in price, the market capitalisation of the biggest crypto has reached $716.5 billion. Bitcoin price increased by 7.7 percent during the week and briefly plunged below $33,000 on Monday last to its lowest level since July. It is still down almost 50 percent from a record high of nearly $69,000 in November. Bitcoin fell as much as 25% in the past month, while the crypto market has lost upward of $1 trillion in market capitalisation in the same period.

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Ether, the world’s second-largest cryptocurrency by market capitalisation, slipped by 0.17 percent to reach $2,597. With this decrease in price, the market capitalisation of ETH has fallen to $305.6 billion. Ether has gained 8.2 percent of its value over the last seven days while the crypto has more than halved in value since reaching its peak in November. Following suit, XRP price went down by 0.93 percent to reach $0.614. The market capitalisation of XRP stands at $61.4 billion with this decrease. XRP gained 2.8 percent during the last seven days.

Likewise, Cardano (ADA) price decreased by 2.12 percent to hit $1.05. Its market capitalisation has reached $34.8 billion with this decrease. ADA fell by 1.5 percent in the past seven days. ADA has come back to the zone above $1, which is good for bulls.

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