Popular cryptocurrency prices have fallen as trade volumes have remained low over the last 24 hours. Due to an increase of Omicron instances throughout the world, there is a potential that the cryptocurrency market will stay unpredictable and unclear.
Bitcoin, the world’s most popular cryptocurrency, was trading at $46,670, a drop of more than 1% from its price 24 hours earlier at 4:25 p.m. Bitcoin’s market capitalisation has dropped to $884 billion, with a 24-hour transaction volume of $889 million.
Similarly, the price of Ether has fallen in the last 24 hours. The value of the second-most popular cryptocurrency remained nearly steady at $3,826. Ether’s market capitalization remained at $450 billion, with a 24-hour transaction volume of little more than $615 million.
Most other minor cryptocurrencies fell on Tuesday as investors remained concerned about the fast expansion of Covid-19 throughout the world. There is a probability that the bitcoin market may remain turbulent in the coming days.
Edul Patel, CEO and Co-founder of Mudrex, a Global Algorithm-based Crypto Investment Platform, commented on the crypto market’s momentum “The cryptocurrency market’s momentum remained low, with traders abstaining from placing aggressive bets. Bitcoin has moved closer to its support level of $46,000.”
“Among the top 30 cryptos, NEAR Protocol extended its dream run, rising more than 21% in the previous session,” he noted.