Bitcoin, ether, dogecoin slip. Latest prices here

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Today’s cryptocurrency prices were mixed, with the world’s largest digital asset falling 4% to $ 31,472, its lowest level in about three weeks. The world’s largest cryptocurrency has been stuck in a range between $ 30,000 and $ 40,000 for weeks after hitting its all-time high of nearly $ 65,000.

According to data from CoinDesk, Bitcoin fell 3% to $ 31,879. Ether, the coin linked to the ethereum blockchain, also fell nearly 3% to $ 1,941.7. Dogecoin, on the other hand, fell more than 6% to $ 0.18. Other cryptocurrencies like XRP, Litecoin, Cardano have also plunged in the last 24 hours.

The moves come as cryptocurrencies and the prospect of a central bank-backed digital currency – otherwise known as CBDC – once again become a topic of interest, Federal Reserve Chairman Jerome Powell during ‘a hearing this week highlighting the need to get such a project. right. At the same time, the European Central Bank has taken a big step towards a digital euro by approving an investigation phase “that could potentially lead to the implementation of a virtual currency by the middle of the decade, Bloomberg reported. .

Bitcoin has struggled lately. It is tracking its 20-day moving average, although it is already trading below and struggling to exceed it on a lasting basis. The coin may soon approach what many consider a critical support level – $ 30,000. A breach below which could indicate that the coin continues to decline towards $ 25,000, which it has not tested since the end of December.

In another news, Fintech Square Inc is starting a new bitcoin-focused business, CEO Jack Dorsey said in a tweet on Thursday. The new company will focus on creating an open development platform with the aim of facilitating the establishment of decentralized financial services.

(With contributions from agencies)

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