Bitcoin Flat at $20,000; Ether, Polkadot Gain Over 4% in a Day

Cryptocurrency Price Today: The cryptocurrency markets recovered during the day today and traded in green The global cryptocurrency market on Friday, September 2, was trading marginally higher by 1.32 per cent, and scaled $984.29 billion at the time of writing this article, data from CoinMarketCap showed. Bitcoin, Ethereum, and other major crypto coins made minor gains over the past 24 hours.

“The surge in the crypto assets value was led by crypto heavyweights like Bitcoin and Ether which recovered from the hawkish stance taken by the Fed chief to tackle growing inflationary concerns. The crypto market seems to have digested the anticipated rate hike and strict monetary policy indicated by Federal Reserve,” said Tarusha Mittal, COO and co-founder of UniFarm.

Bitcoin price today at the time of writing this article was $20,104.67, up by 1.11 per cent over the past 24 hours, data retrieved from CoinMarketCap showed. In the past seven days, Bitcoin prices have fallen by 6.07 per cent.

“Bitcoin has been moving sideways over the past few days in a tight range between US$19,000 and US$20,000. If the selling pressure intensifies and BTC closes below the US$20,200 level, we might see BTC re-test the US$20,000 mark soon,” said Edul Patel, CEO and co-founder of Mudrex.

On the other hand, Ether price today moved up by 3.40 per cent at the time of writing in article to scale $1,592.74, showed data from CoinMarketCap. Over the past week, Ether prices have spiralled down by 3.59 per cent, the data further showed.

“Ethereum was also seen to be trading above the 1,500 level. As the dates are drawn closer, it would be exciting to see how the upcoming Merge would influence BTC and other cryptos,” said Patel.

“Crypto investors are loyal and long-term holders of crypto assets to beat inflation and create long-term wealth. The selling pressure is expected to cool down in the coming weeks as the upcoming festive season will encourage investors to park their funds in digital assets for healthy returns. The weakening rupee may affect the current financial scenario in the short term as the cost of imports is expected to go up,” added Mittal.

Here are the top 10 cryptocurrencies and their prices on September 2, Friday (data from at the time of publishing this article)

Bitcoin $20,104.67 or 1.11 per cent gain in the last 24 hours

Ethereum $1,592.74 or 3.40 per cent gain in the last 24 hours

Tether $1.00 or 0.00 per cent gain in the last 24 hours

USD Coin $0.9999 or 0.01 per cent loss in the last 24 hours

BNB $278.64 or 1.01 per cent gain in the last 24 hours

Binance USD $1.00 or 0.03 per cent loss in the last 24 hours

XRP $0.3323 or 1.96 per cent gain in the last 24 hours

Cardano $0.4589 or 2.69 per cent gain in the last 24 hours

Solana $31.61 or  1.80 per cent gain in the last 24 hours

Dogecoin $0.06208 or 2.76 per cent gain in the last 24 hours

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