Bitcoin price falls below $30,000, Ethereum, other cryptocurrencies in red
India Today
Bitcoin has declined by less than other cryptocurrencies in May. Trading has remained choppy this year even though there have been brief rallies.
Bitcoin's price on Thursday fell below $30,000 as most other cryptocurrencies were trading in the red, according to data on CoinDesk.
Trading has remained choppy this year even though there have been brief rallies. The lower appetite for risk seems to remain among crypto traders as the month of June commences.
The world's largest cryptocurrency, bitcoin, has declined by less than other cryptocurrencies in May. On Thursday, Bitcoin fell 5.26 per cent to $29,831.
Ethereum, the world's second largest cryptocurrency, slipped 5.64 per cent to $1,820.
"Bitcoin, Ethereum, and most cryptocurrencies dipped on Wednesday. BTC drifted back to US$29,000 after experiencing a brief price bounce on Tuesday," Edul Patel Co-Founder and CEO of Mudrex.
"This recent dip indicates a low-risk appetite among the buyers. It is yet to be seen how long the bearish trend will continue to affect the market," Patel said.
Other cryptocurrencies such as Luna Classic fell 45 per cent, Binance Coin was down 5.31 per cent.
