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Bitcoin under $22,000; Ether, Solana, Dogecoin lose up to 14%

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Cryptocurrency rates today: Cryptocurrencies fell sharply on Friday, as the sudden sell-off sent bitcoin to a three-week low. Bitcoin slipped below $23,000 on expectations of further price hikes. Manoj Dalmia, founder and director of Proassetz Exchange, said: “BTC is still trading above its support levels. After a weekly close above $24,000, BTC managed to reach the resistance level at $25,200. At the moment, it has rebounded to $23,000 and is still trading in a limited area. The range is between $22,800 and $25,000. A breakout above $25,200 could lead to $29,000. In general, the trend is sideways and a breakout on either side can only justify a new trend.”

Even for Ethereum, merger excitement and dust removal were done. Experts see limited movement in the coming days. The global cryptocurrency market capitalization took a big hit, falling 2.76 percent from Thursday’s levels. Data from CoinMarketCap, a cryptocurrency data aggregator, showed that the global cryptocurrency market capitalization is $1.09 trillion, down from $1.12 trillion on Thursday.

Even for Ethereum, merger excitement and dust removal were done. Experts see limited movement in the coming days. Shiba Inu shares are down 12 percent, while Avalanche and Dogecoin are down as much as 14 percent each. Cardano and Polkadot are down 8 percent each.

The European Central Bank (ECB) said it will coordinate how banks provide crypto assets to ensure they have sufficient capital and experience in a sector that some EU lawmakers have described as the Wild West. Many crypto companies such as Binance and Crypto.com are licensed in EU countries such as Italy, France, Spain, Greece or Germany after complying with the national safeguards against money laundering and terrorist financing.

The co-founder of the failed Terra cryptocurrency, which collapsed and wiped out about $40 billion in investor funds in May, admitted he was “wrong,” but said he had not spoken to South Korean investigators. The dramatic breakup of TerraUSD and its sister token Luna – both of which have fallen to almost zero – has hit the broader cryptocurrency market, causing more than $500 billion in losses.

Here are the top 10 cryptocurrencies and their prices on August 20, 2022 (data from coinmarketcap.com at the time of this article)

Bitcoin $21,761.07 or 7.46% loss over the past 24 hours

Ethereum $1,740.10 or 6.15 percent loss in the last 24 hours

Cardano $1.00 or 0.00 percent loss in the last 24 hours

Earn $1.00 or 0.02 percent in the last 24 hours

XRP gained $0.3427 or 8.98 percent in the last 24 hours

Solana $36.32 or 11.70 percent loss in the last 24 hours

Dogecoin $0.06979 or 13.98 percent loss over the past 24 hours

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