Daily Times

The cryptocurrency market remained bearish for the second straight day, with market capitalisation shedding 0.5 percent to reach $1.73 trillion.

As of 1150 hours GMT, Friday, the largest cryptocurrency Bitcoin’s (BTC) price shed 0.79 percent to reach $36,371. With this decrease in price, the market capitalisation of the biggest crypto has reached $688.7 billion. During the intra-day trading, BTC price declined below the support of $36,000, though buyers were able to restore the price to the level of $38,950 a day earlier.

Bitcoin price decreased by 8.13 percent during the week and briefly plunged below $33,000 on Monday 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 25pc in the past month, while the crypto market has lost upward of $1 trillion in market capitalisation in the same period.

Ether, the world’s second-largest cryptocurrency by market capitalisation, slipped by 2.46 percent to reach $2,382. With this decrease in price, the market capitalisation of ETH has fallen to $280.4 billion. The price recovered to $2,725 a day earlier before selling volumes began to pick up and the bears pushed the price down. Ether has shed 18.73 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 2.19 percent to reach $0.594. The market capitalisation of XRP stands at $59.4 billion with this decrease. The XRP surged to $0.66 a day earlier before coming down. XRP fell by 16.47 percent during the last seven days.

Likewise, Cardano (ADA) price decreased by 3.25 percent to hit $1.01. Its market capitalisation has reached $33.4 billion with this decrease. ADA fell by 16.47 percent in the past seven days. ADA has come back to the zone above $1, which is good for bulls. If buyers can hold this mark and the trading volume increases, the current accumulation may be a prerequisite for further growth to the zone of the most liquidity around $1.30.

Similar was the case with Dogecoin (DOGE) whose price took a dip of 2.95 percent to reach $0.138. With this decrease in price, the market capitalisation of DOGE has reached $18.4 billion.