Cryptocurrency Update: Bitcoin Down To US$ 19,800, Ether Falls To US$ 1,552

The cryptocurrency market continues to fall internationally. On September 3, at 5.44 pm UTC, Bitcoin fell by 0.66% intra day, and was quoted at US$ 19,800.40. Yesterday, Bitcoin closed at US$ 19,931.50. In the last 5 days, Bitcoin fell by 2.37%, and in the past 1 month, it has dropped sharply by 13.23%. Additionally, in the past 6 months, its performance has been quite bearish, plunging by 53.36%.

However, other major cryptocurrencies apart from Ether are showing a bullish trend today. Ethereum was quoted at US$ 1,552.90, down by 1.36%. Yesterday, Ether closed at US$ 1,574.38. Litecoin was quoted at US$ 61.08, up by 0.26%, Dogecoin was quoted at US$ 0.0625 up by 1.88%, and Cardano was quoted at US$ 0.4801 up by 5.81% today, till last traded.

"The Merge shifts Ethereum from a proof-of-work mechanism to a proof-of-stake design, after which the network will rely on "stakers" to process transactions instead of miners. This would theoretically increase network speed and security, while considerably reducing the power requirements needed to run the current Ethereum blockchain," commenting on the Ether market, a CoinDesk report stated.

Globally stock markets are also down today. S&P 500 fell by 1.07%, stood at 3,924.26, and Nasdaq Composite fell by 1.31%, stood at 11,630.86, at the time of writing. US Dollar index stood at 109.61, down by 0.07%, till last traded.