Bitcoin, the world's largest cryptocurrency, was trading slightly higher today. The price of Bitcoin was up 0.31% to $ 49,178 on Coinmarketcap. The market capitalization of the cryptocurrency stood at $ 931.30 billion.
Bitcoin fell into free fall on Saturday, dropping more than 20% to $ 41,967 as a combination of profit-taking and macroeconomic concerns unleashed nearly $ 1 billion in cryptocurrency sales.
Currently, the global crypto market capitalization stands at $ 2.29 trillion, a loss of 0.66%. Other cryptocurrencies were trading on a mixed note today.
Ethereum was up 0.05% at $ 4.181 and Dogecoin was trading 2.92% lower at $ 0.1719. The Stellar digital token rose 1.33% to $ 0.2827 and Litecoin fell 2.6% to $ 155.77.
XRP decreased 3.52% to $ 0.8056 and Uniswap lost 3.27% to $ 16.40.
Lately, cryptocurrency prices have risen due to comments from billionaire Elon Musk and Cathie Wood of Ark Investment Management LLC.
In late July, Elon Musk said that Tesla was "more likely" to start accepting bitcoin as payment again. The comment helped the cryptocurrency break above the $ 30,000 level. The electric car maker said in May that it would no longer accept the cryptocurrency for purchases. It has been a wild ride for Bitcoin the last three years.
The digital currency made its grand debut on Wall Street in December 2017, when major futures exchanges launched Bitcoin futures. Attention brought Bitcoin to roughly $ 19,300, an unprecedented price for the coin.
