Bitcoin Slips Down by Over 6 Percent, Majority of Altcoins Descend Down Price Ladder

As per Binance and CoinMarketCap, Bitcoin recorded losses of over 6 percent and opened trading at an even lower price point of $18,807 (roughly Rs. 15 lakh).

Written by Radhika Parashar, Edited by Abhinav Lal | Updated: 19 September 2022 11:06 IST

Bitcoin Slips Down by Over 6 Percent, Majority of Altcoins Descend Down Price Ladder

Photo Credit: Pixabay/ WorldSpectrum

The overall market valuation of the crypto sector stands at $911 billion

Highlights

Crypto markets drenched in reds
Uniswap, Cosmos saw losses
Avalanche also slipped down the price ladder

The global crypto market has been on a downward trend in the past week as the sentiment around cryptocurrencies remained bearish due to various macroeconomic factors. Bitcoin on Monday, September 19, slipped down by 6.44 percent as per Gadgets 360's crypto price tracker. The current price of Bitcoin stands at $18,757 (roughly Rs. 15 lakh). Similar thick losses struck Bitcoin on an international exchange as well. As per Binance and CoinMarketCap, Bitcoin recorded similar losses and opened trading at a price point of $18,807 (roughly Rs. 15 lakh).

Ether has also followed Bitcoin on the loss scale. Following the launch of Ethereum blockchain's energy-efficient Merge upgrade, ETH is trading at $1,299 (roughly Rs. 1.03 lakh) as per Gadgets 360's crypto price tracker.

From stablecoins to memecoins — the market movement did not spare any relief to any sector of altcoins, all of which recorded only losses today.

[Sponsored] Samsung Galaxy S24: The Ultimate Camera Phone With Smarter On-Device AI

Tether, Binance Coin, Ripple, Cardano, and Solana reeled-in losses.

Dogecoin and Shina Inu slipped down.

“The slump might be due to the soaring inflation, recession, and fear around the Federal Open Market Committee's meet-up on the 21st of September over the next interest hike. Bitcoin has experienced a heat wave post the CPI data was released. If buyers cannot seize the initiative above the current level today, we might see ETH dropping to another vital point below $1,300 (roughly Rs. 1 lakh) soon,” Edul Patel, CEO and co-founder of Mudrex crypto investing platform told Gadgets 360.

Crypto Scammers Flock to Exploit Twitter Accounts Following Merge

The overall market valuation of the crypto sector dipped by 6.25 percent and presently stands at $911 billion (roughly Rs. 72,59,678 crore).

Apple unveiled eight new products at its September 'Far Out' event. Which ones will float — and which will sink? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

Affiliate links may be automatically generated - see our ethics statement for details.

Cryptocurrency Prices across Indian exchanges

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: Cryptocurrency, Bitcoin, Ether, Solana, Polygon, Ripple, Cardano, Tether, Binance Coin, Dogecoin, Memecoin, Stablecoins, Memecoins

Radhika Parashar

Email Radhika

Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More