Bitcoin falls to $38,950 amid uncertainties

Author: Monitoring Desk

The cryptocurrency market slumped on Thursday amid ongoing uncertainty about inflation and oil prices due to the ongoing Russia-Ukraine war.

As of 1400 hours GMT, the market capitalisation decreased 5.5 percent to reach $1.82 trillion. The largest cryptocurrency Bitcoin’s (BTC) price went down by 7.07 percent to reach $38,950. With this decrease in price, the market capitalisation of the biggest crypto has fallen to $737.5 billion. Bitcoin has shed 11.3 percent during the last seven days. Ether, the world’s second-largest cryptocurrency by market capitalisation, dipped by 5.47 percent to reach $2,579. With this decrease in price, the market capitalisation of ETH has reached $303.5 billion. Ether has shed 12.6 percent of its value over the last seven days. Similarly, XRP price decreased by 2.91 percent to reach $0.728. The market capitalisation of XRP stands at $72.8 billion with this decrease. XRP has shed 5 percent during the last seven days.

On the other hand, Cardano (ADA) price went down by 5.35 percent to reach $0.797. Its market capitalisation has reached $26.3 billion with this decrease. ADA shed 14.8 percent in the past seven days.

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