The world's largest criptocurrency,Cryptocurrencies, was trading marginally higher today. The price ofBitcoin went up by 0.31% to $49,178 on Coinmarketcap. The market cap of the criptocurrency was $931.30 billion.
A combination of profit-taking and macroeconomic concerns triggered nearly a billion dollars worth of selling across cryptocurrencies and caused a 20% drop in the price of the digital currency to fall to $41,967 on Saturday.
The global market cap is currently $2.29 trillion, a loss of 0.66%. Other cryptocurrencies traded on a mixed note today.
Doge coin was trading 2.92% lower at $0.1, 719, a gain of 0.05% to $4,181 and ethereum rose 0.05% to $4,181. Stellar went up 1.33% to $0.2827 and Litecoin fell 2.6% to $155.77.
XRP dropped 3.52% to $0.8056 and Uni swap lost 3.27% to $16.40.
The price of digital currency has gone up because of comments made by billionaire Elon Musk and Ark Investment Management LLC's Cathie Wood.
In late July, Elon Musk said Tesla was most likely to acceptbitcoin as payment. The comment helped the race of criptocurrencies get past the $30,000 level. In May, the electric carmaker said it would no longer accept the digital currency for purchases. It's been a wild ride for the last three years forBitcoin.
The digital currency made its big Wall Street debut in December 2017 when major futures exchanges started rolling outBitcoin futures. The attention drove the price of Bitcoin to around $19,300, a moment when it was unheard of a price for the currency.