Top cryptocurrency, Bitcoin prices today, December 20: In terms of cryptocurrencies, the price of Bitcoin fell to its lowest point in three weeks, and the biggest and most well-known digital token was trading more than 1% down at USD 16,764.
According to data from CoinGecko, the market capitalization of all cryptocurrencies worldwide fell below the USD 1 trillion threshold today after falling more than 1% on the previous day to USD 841 billion.
"Monday saw Bitcoin trade below the USD 17,000 mark as values continued to stabilise after an erratic weekend. BTC is struggling to recover from the loss following a strong trend following the FOMC meeting last week. To stop further decline, bulls must hold the line around roughly USD 16,200 to USD 16,500. Ethereum, on the other hand, stayed stable since yesterday since none of the parties had amassed sufficient influence to make a swift shift. "Only if the rate fixes above the crucial USD 1,200 zone would any growth be conceivable," stated Edul Patel, CEO and Co-Founder of Mudrex. The second-largest cryptocurrency, Ether, which is connected to the Ethereum network, was nearly unchanged at USD 1,193. Shiba Inu was down more than 3% at USD 0.000008 while Dogecoin was trading more than 5% lower at USD 0.07. Litecoin, Chainlink, ApeCoin, and Tron were trading with gains today, while the values of Binance USD, Avalanche, Tether, Terra, Solana, Polygon, Stellar, XRP, Cardano, Uniswap, and Polkadot were trading with losses over the past 24 hours.
After hitting record highs in late 2018, cryptocurrencies have had a difficult year, buffeted by everything from the Fed's tightening of policies to the collapses of the Terra/Luna ecosystem, hedge funds Three Arrows Capital, and exchange FTX.
The closure of FTX this month was the most stunning of several significant market participants this year, including Celsius and Voyager, prominent tokens terraUSD and Luna, which have shook investor confidence and destroyed USD 1.5 trillion in market capitalization for cryptocurrencies.
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