Cryptocurrency Update: Bitcoin Drops, Ethereum Makes Progress

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Image by Peter Patel from Pixabay

As Bitcoin was touted to reach great heights after a positive growth of over three percent, it has now seen a drop. Bitcoin has precisely dropped by 1.19% leaving it at the price of $11,320.

The change comes as a surprise for most users as Bitcoin was touted to remain stagnant before moving up the ladder. It was also predicted that the Bitcoin might hit $28000 mark at the end of the year. But their remains hint of uncertainty. However, on a positive note, it has been seen that the drop is not much larger in comparison to the growth it earned last week.

Ethereum made a rapid progress in the last 24 hours, gaining by 7.86%, to take its value to $381.59. The core reason for the higher growth of Ethereum could be a higher number of trade and exchange.

XRP also grew over 10% in the last 24 hours, taking its value to $0.290. Tether, meanwhile, saw a gradual drop while Bitcoin Cash fell by six per cent.

Among other cryptocurrencies in the top 10, Bitcoin SV, Litecoin, Cardona saw a fall while Cypto.com Coin gradually moved up and Binance Coin saw a fall.

Last 24 hours conclusion

Ethereum made the most in the last 24 hours as it recorded a significant growth. However, it was not the same for Bitcoin as it dropped marginally. But it is expected that Bitcoin will comeback strongly and retain its position in the next 24 hours.