Bitcoin, Ether See Dips After a Day’s Gain With Cryptocurrencies Seeing Red

A day after minor recovery, the value of Bitcoin on Friday opened with a dip of 0.15 percent. The world's second most-valued cryptocurrency is presently trading at $46,082. The development comes a day after Bitcoin rose by 2.38 percent on Thursday, September 30.

The week has remained unstable for the crypto market altogether, including for Bitcoin, after China totally banned crypto-trading last week, on September 24. Price fluctuations have also been recorded among other cryptocurrencies throughout the week.

Ether price also slipped slightly one percent this morning. The Ethereum blockchain-based cryptocurrency is currently trading at $3,179. One day ago on September 30, had opened with a gain of 3.8 percent.

Cardano, Ripple, and Dogecoin are among other cryptocurrencies to record minor drops.

There are, as of now, only a handful of popular cryptocurrencies that have opened with gains.

Litecoin, Bitcoin Cash, and Cosmos Price grew in values by a slight margin.

Earlier this week, industry analysts had said that following China's crackdown on cryptocurrencies, market instability was only natural. Experts were however hopeful that cryptocurrencies will recover quickly.

As per a research report by Fortune Business Insights, the global cryptocurrency market is projected to reach $1,758 million by 2027.

October 01, 2021