On Tuesday, cryptocurrency prices plummeted, with the world's most popular and largest digital token by market capitalization trading below the USD47,000 mark. Today's bitcoin price was USD46,195, down about 2 percent. In the last three sessions, the digital token has gained 0.6 percent.

According to CoinDesk, Ether, the second largest cryptocurrency and the unit linked to the Ethereum network, fell nearly 2 percent to USD3,751. Dogecoin, on the other hand, has dropped almost 2 percent to USD0.17, while Shiba Inu has down 3 percent to USD0.000033. Meanwhile, Binance Coin has dropped nearly 4 percent to USD509.

Other digital currencies, such as Solana, Cardano, Polygon, and Stellar, have seen their prices fall in the previous 24 hours, while Uniswap and Tether have risen. According to CoinGecko, the global crypto market capitalisation fell more than 2 percent to USD2.34 trillion, owing to a drop in cryptos.

Cryptocurrencies in general had a bad year in 2021. In December, Bitcoin dropped about 19 percent, making it one of the worst months of the year. In 2021, the cryptocurrency increased by 60 percent, reaching a high of near USD69,000 in early November, after which it has had a difficult time since reaching an all-time high.

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