Bitcoin price falls, other cryptocurrencies in red

The world's largest cryptocurrency, Bitcoin's price on Thursday fell 0.61 per cent to $30,317.

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Bitcoin price fell on Thursday.

HIGHLIGHTS

  • Ethereum, was down by 0.60 per cent
  • Bitcoin remains volatile
  • Bitcoin is currently down by almost 34 per cent since the beginning of the year

Bitcoin was in volatile mode and other cryptocurrencies were trading flat. This comes as investors remain watchful and are waiting for clearer indications on the impact of inflation and the economy.

Cryptocurrencies have been struggling in recent times.

BITCOIN PRICE

The world's largest cryptocurrency, Bitcoin's price on Thursday fell 0.61 per cent to $30,317. The world's second largest cryptocurrency, Ethereum, was down by 0.60 per cent to $1,798.75.

"Bitcoin is seen changing hands above US$30,000 and is down by nearly 3 per cent after swinging above US$31,536 on Wednesday. Bitcoin is currently down by almost 34 per cent since the beginning of the year and 56 per cent down from its all-time high," Edul Patel, Co-Founder & CEO of Mudrex, said.

"If buyers can manage to keep Bitcoin above US$32,000, we may likely see an upward move to US$34,000 by the end of June," Patel said.

Other cryptocurrencies like XRP was up 0.54 per cent, Cardano fell 0.14 per cent, Solana 0.82 per cent, Avalanche fell 1.47 per cent.

Alt coins such as Dogecoin fell by 0.28 per cent, Shiba Inu was down by 0.30 per cent, Polygon fell 0.58 per cent.

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