The world’s largest cryptocurrency Bitcoin has traded more than 5% today. Bitcoin price fell 6.08% to $59,013 on Coinmarketcap. The cryptocurrency has a market capitalization of $1,109.65 billion.
Currently, the global cryptocurrency market cap is $2.48 trillion, down 6.04%. Other cryptocurrencies were also trading in the red. Ethereum lost 4.55% to $4,037 and Dogecoin was trading down 13.20% at $0.2358.
Digital coin Stellar lost 11.81% to $0.3402, and XRP fell 8.86% to $1.02. Litecoin is down 8.28% to $182.25 and Uniswap is down 9.72% at $25.
Recently, cryptocurrency prices have skyrocketed on the back of comments by billionaires Elon Musk and Kathy Wood from Ark Investment Management LLC.
In late July, Elon Musk said that Tesla would “probably” start accepting Bitcoin as payment again. The comment helped the cryptocurrency to cross the $30,000 mark.
The electric car maker said in May that it would no longer accept cryptocurrency for purchase. It’s been a wild ride for bitcoin for the past three years.
The digital currency made its debut on Wall Street in December 2017, when major futures exchanges rolled out Bitcoin futures. Interest has pushed Bitcoin to nearly $19,300, an almost unheard of price for the coin.