Cryptocurrency prices today are taking another beating.
The price of Bitcoin has fallen below $21,000 for the first time since December 2020. In fact, after a bullish rally from December 2020 to March 2021 took the Bitcoin price from $19,000 to over $60,000 it had not even fallen below $30,000 until the past few weeks.
Bitcoin is currently 71% down in price from its all-time high. A similar story can be seen in most other top cryptocurrency prices today.
Why are cryptocurrency prices crashing today?
A crypto crash was first seen in May 2022 after the collapse of Terra Luna spooked traders across the market.
The Luna Foundation Guard sold nearly 80,000 Bitcoins (valued at $2.4 billion) as they tried and failed to defend the $1 peg of TerraUSD. Along with panic selling, shorting and other macroeconomic factors such as sky-high inflation the Bitcoin price collapsed from $40,000 to under $27,000.
The Bitcoin price stabilised at around $30,000 for the rest of May. But in June consumer price index (CPI) put inflation at 8.6% – the highest since 1981 – and this spooked investors across all commodities, stocks, and crypto markets.
Once again, the Bitcoin price collapsed from $30,000 to barely above $20,000 today.
Top cryptocurrency prices today: Bitcoin, Ethereum, BNB, Cardano, Solana, XRP and EverGrow Coin
Bitcoin price: The price of Bitcoin is currently $20,244 as of Wednesday, June 15. The Bitcoin price has lost 9% in the last 24 hours, and 31% in the past week.
Ethereum price: The price of Ethereum is $1,114 today. The Ethereum price has fallen 10% in the past day and 38% in the past week.
BNB price: The price of BNB is $210 today. The BNB price has dropped 8% in the past day and 27% over the last week.
Cardano price: The price of Cardano (ADA) is $0.4616 today. Cardano has lost 10% in price in the past day and 27% over the seven days.
EverGrow Coin price: The price of EverGrow Coin is $0.0000001764 and has grown 12% in the past day. While not yet in the crypto top 50, EverGrow Coin is one of the fastest-growing cryptocurrency tokens in the market today with strong potential for a breakout in the coming weeks. EverGrow Coin also pays BUSD rewards daily, with more than $37 distributed to investors since launching in September last year.
Solana price: The price of Solana is currently $27.96. The Solana price has fallen 10% in the past 24 hours. Solana has lost 28% in price over the past week.
XRP price: The price of XRP is $0.3058, after falling 4% in the past day. The XRP price has lost 23% over the past week.
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