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Cryptocurrency Recovers Marginally In Trade: Bitcoin Gains To US$ 19,313, Ether Falls


Cryptocurrencies recover only marginally in trade today. On September 28, at 6.04 pm UTC, Bitcoin fell by 1.15% intra day trading and was quoted at US$ 19,313. Yesterday, Bitcoin closed at US$ 19,241.50. On the other hand, Ethereum was quoted at US$ 1,318.34, down by 0.72%. Yesterday, Ethereum closed at US$ 1,327.92. Litecoin was quoted at US$ 53.31, up by 1.22%, Dogecoin was quoted at US$ 0.0607 up by 0.0076%, and Cardano was quoted at US$ 0.4356 down 1.44% today, till last traded.

Cryptocurrency Recovers In Trade: Bitcoin Gains To US$ 19,313, Ether Falls

Commenting on today's fall in Ether price, a Wall Street Journal report mentioned, "The price of the cryptocurrency ether has fallen 19% over the past two weeks as Ethereum miners sell their holdings in the wake of a much-hyped software upgrade dubbed "the merge." Markets have been falling around the world as the Federal Reserve and other central banks raise interest rates aggressively to combat rising inflation. Higher rates for safe debt usually make riskier assets less attractive to investors-and traders consider cryptocurrencies among the riskiest."

However, Bitcoin, in the last 5 days gained only by 0.37%. In the past 1 month, it has dropped by 1.09%. Additionally, in the last 6 months, Bitcoin plunged by 58.81%.

Meanwhile, the US stock markets also recover marginally from the bear zone. S&P 500 was up by 1.55%, stood at 3,704 points, and Nasdaq Composite was up by 1.46%, stood at 10,987.33, at the time of writing today. The US Dollar index quoted at 112.77 today, falling by 0.20%, after reaching a fresh 20-year high range.

Story first published: Wednesday, September 28, 2022, 23:49 [IST]
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