Bitcoin Price Falls Below $19,800, Ether Also Plunges To $1,552

Bitcoin price fell over September 3 and was quoted at US$ 19,800.40 at 5.44 pm UTC. The price of Bitcoin has decreased by 2.37% over the previous five days, and it has plummeted by 13.23% over the past month. In addition, its performance has been somewhat unfavorable during the most recent half-year, falling by 53.36%.

Nevertheless, most of the leading cryptocurrencies are exhibiting a positive trend today. The price of Ethereum was reported at US$ 1,552.90, representing a decrease of 1.36%. The last time we checked, Ethereum’s price reached USD 1,574—a development that should be noted with interest!

Also Read: Indonesia’s largest technology company GoTo joins the cryptocurrency market!

The price of Litecoin was quoted at US$ 61.08, an increase of 0.26%; the price of Dogecoin was stated at US$ 0.0625, a rise of 1.88%; and the price of Cardano was listed at US$ 0.4801, an increase of 5.81%.

This is the first time in history that we have seen a market recovery after a market crash, with most cryptocurrencies recovering their losses and going up by around 10%. The only exception is Ethereum which has fallen by over 12% after its merge with EOS.

The fall was not caused by any significant event or news but rather by a report from CoinDesk that indicated that the Ethereum network would move to a proof-of-stake system instead of a proof-of-work system.

Also Read: Compass Mining Shuts 2 Bitcoin Mining Facilities Due To High Energy Price

This would potentially result in a boost in network speed and security while also resulting in a significant reduction in power needs necessary to operate the present Ethereum blockchain.”

Deep Gautam

Deep Gautam is an Editor at Tech Heralds.

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