BTC $20949.60 (-1.2%)
ETH $1221.38 (0.56%)
USDT $0.99 (-0.0%)
BCH $111.68 (-2.7%)
BSV $59.76 (-2.3%)
LTC $56.45 (-1.5%)
BNB $238.19 (0.29%)
ADA $0.48 (-2.1%)
DOGE $0.07 (-5.0%)
BTC $20949.60 (-1.2%)
ETH $1221.38 (0.56%)
USDT $0.99 (-0.0%)
BCH $111.68 (-2.7%)
BSV $59.76 (-2.3%)
LTC $56.45 (-1.5%)
BNB $238.19 (0.29%)
ADA $0.48 (-2.1%)
DOGE $0.07 (-5.0%)

Dogecoin, Others Plummet as BTC Dips Below $30K Today

Dogecoin Dogecoin News
    • Dogecoin, Bitcoin, and other currencies have been on a downtrend today.
    • The sell-off has likely been triggered by several factors.
    • Bitcoin fell over 3% and was trading at $29,258.10.

The price of Bitcoin (BTC) and other cryptocurrencies has been plummeting today, with the price of Bitcoin sinking below $30,000. Dogecoin and other currencies have also taken a hit.

Bitcoin was trading at around $29,600 as of midday on Thursday, down more than 12% from its price just 24 hours ago. According to the COIN360 cryptocurrency heatmap, the total value of all cryptocurrencies has fallen by more than $600 billion over the past week.

The sell-off was likely to be triggered by a number of factors, including investors’ fears about tighter regulation and the potential for a worldwide economic slowdown. In addition, the price of Bitcoin had been rising steadily in recent weeks, and some analysts believe that it was due for a correction.

A day after Bitcoin rose by 5.33% to reach $30,204.92, it witnessed another drop today below $30,000. The world’s largest and most popular crypto fell over 3% and is trading at $29,258.10 at the time of writing. Notably, Bitcoin is down 36% this year.

Dogecoin (DOGE) is also down sharply today. The coin was trading at around $0.05 as of midday on Thursday, down more than 20% from its price just 24 hours ago.

Comments from US Treasury Secretary Janet Yellen might have affected the price drop. Yellen on Tuesday said, “cryptocurrencies are a particular concern because they are often used for illicit activity.”

Meanwhile, Shiba Inu (SHIB) traded at around $0.000058 as of midday on Thursday. The token is down by more than 99% from its price 24 hours ago. Other major cryptos, including Ethereum, XRP, and Litecoin, are also down today.

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Britney is a market analyst who covers stories about the cryptocurrency world. She holds a Business Administration Degree in Finance and aims to let the readers understand crypto from a beginner perspective.