Bitcoin is targeting $ 50,000, dogecoin increases by 8%. Check Cryptocurrency Prices Today

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The price of Bitcoin today is lowered to $ 50,000 for the first time since El Salvador verified the deployment of the largest cryptocurrency as legal tender in early September. Bitcoin was trading nearly 3% higher at $ 49,407.

Bitcoin had fallen by more than $ 52,000 per coin, or more than 17% on September 7 after El Salvador became the first country to adopt Bitcoin as legal tender as the rollout stumbled into its early hours.

Other cryptocurrency prices today were mixed with ether, the coin linked to the ethereum blockchain and the second largest crypto was trading slightly higher at $ 3,393.9. Cardano prices fell almost 1% to $ 2.20 while dogecoin jumped 8% to $ 0.24. XRP, Stellar have gained while Solana, Litecoin, Uniswap have slipped in the last 24 hours.

“All the crypto markets have been positive for a few days. The total crypto market cap has broken the descending channel pattern, indicating some type of trend reversal. We can certainly expect a rally in the crypto markets. crypto, like the RSI indicator for BTC “With the dollar index weakening slightly from the past few days, we can only hope that the cryptocurrency markets will gain buying momentum,” Siddharth said Menon, COO of WazirX.

Meanwhile, investment products and cryptocurrency funds registered entries for a seventh consecutive week, data from digital asset manager CoinShares showed on Monday. Entries to the sector totaled $ 90.2 million last week, led by bitcoin which took down $ 69 million, according to CoinShares data as of October 1. In the past seven weeks, crypto entries have reached $ 390 million.

Bitcoin recorded its third consecutive week of influx. Ethereum products and funds, meanwhile, saw another week of influx totaling $ 20 million, despite market share conceded to bitcoin in recent weeks. Entries into ether, the token of the Ethereum blockchain, have so far this year amounted to $ 1 billion.

Another report showed that India, Vietnam and Pakistan are helping to expand cryptocurrency markets in Central and South Asia, according to Chainalysis. The Indian market has grown 641% in the past year and Pakistan’s by 711%, a Chainalysis report showed, using a metric that estimates the total cryptocurrency received by a country.

(With contributions from agencies)

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