Crypto Price Today: Bitcoin regains $20K; Solana & Polkadot gain up to 8%

Michael Patryn Usa India China province Hunan Ethereum avalanche Crypto prices today crypto market news Bitcoin

27.09.2022 - 16:25

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economictimes.indiatimes.com:

Bitcoin topped the $20,000 mark, whereas Ethereum found some mojo back, the first time after the Merge. However, analysts believe that the recovery might be short-lived amid the macroeconomic turbulence and rising fears of recession. Thus, traders need to be cautious for the time being, they add. Barring the XRP and US dollar-pegged Tether, all top crypto tokens were trading sharply higher on Tuesday. Solana zoomed up to 8 per cent, whereas Bitcoin and Polkadot were up by 6 per cent each. The global cryptocurrency market cap was trading higher at $962.94 billion, gaining more than 4 per cent in the last 24 hours. However, the total trading volume zoomed almost 52 per cent, close to $81.16 billion.

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Expert TakeEdul Patel, CEO and co-founder, Mudrex said that Bitcoin and Ethereum rose in tandem with the equity markets. «Bitcoin buyers could seize the initiative above the $19,500 level by entering the market after digesting macroeconomic factors. The second largest cryptocurrency, Ethereum, regained its psychological support at $1,300.»Global Updates

Authorities in China's Hunan province arrested 93 people for allegedly laundering up to RMB 40 billion ($5.6 billion) using cryptocurrencies, as the country continues to crack down on crime that includes digital assets. The Commodity Futures Trading Commission (CFTC) filed and settled charges last week against a blockchain protocol and its founders that could have an enormous ripple effect on the crypto industry. Michael Patryn the co-founder of failed Canadian crypto exchange QuadrigaCX who goes by the moniker 'Sifu,' has Read more on economictimes.indiatimes.com

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