As the cryptocurrency market's corrective process continues, the price of Bitcoin (BTC) dropped below $34,000 on major exchanges, including Binance. At the time of press, Bitcoin was seen trading at $ 35,441 red by 7.17%. Market capital of $666,027,333,944 as on 23 May 2021.
Bitcoin, the world's largest and most well-known cryptocurrency, is down 47.4% from its April 14 high of $64,895.22. On Sunday, bitcoin had dropped 8.9% to $34,156, a loss of $3,344.54 from its previous close.
Bitcoin is a decentralised cryptocurrency that was first introduced by an individual or group of people using the pseudonym Satoshi Nakamoto in a whitepaper published in 2008. It was released in January 2009, just a few months later.
Elon Musk expressed tepid support for cryptocurrencies in a Tweet this morning, following a debilitating market decline that may be picking up steam this weekend.
The true battle is between fiat & crypto. On balance, I support the latter.— Elon Musk (@elonmusk) May 22, 2021
Ether (ETH) trading around $2,150. In the red 11.40% over the previous 24 hours.
Dogecoin trading around $0.32. In the red 7.77% over the previous 24 hours.
Ripple trading around $0.80. In the red 13.64% over the previous 24 hours.
Cardano trading around $1.30. In the red 13.77% over the previous 24 hours.
While Bitcoin has been hit by a series of negative news headlines, some crypto investors are still celebrating significant gains in the altcoin bull market of 2021.