Crypto Price Today: Bitcoin holds $19k; Cardano, XRP& Dogecoin drop up to 5%

economictimes.indiatimes.com:

Crypto market continued its mixed trends on Thursday ahead of US inflation data following the hawkish commentary from the US fed in its last FOMC meeting. Bitcoin and other cryptos have remained range bound lately. Bitcoin held above the $19,000 mark, whereas Ethereum remained below $1,300-levels. Trading volume has remained tepid, falling regularly below 20-day averages, which suggest the lack of conviction among the investors. Barring Bitcoin, Ethereum, Tether and Tron, all top crypto tokens were trading lower on Thursday. Cardano plunged about 5 per cent, whereas XRP, Dogecoin and Polygon dropped 3 per cent each. Shiba Inu and Avalanche shed 2 per cent each. The global cryptocurrency market cap was trading flat at $915.55 billion, dropping maringally in the last 24 hours. However, the total trading volume jumped almost 20 per cent to $58.48 billion.

Did you Know?

SAP has launched a new enterprise on the Metaverse with the aim of accelerating cloud adoption among Indian firms. The interactive and immersive ‘cloud on wheels’ platform will enable customers to experience the full range of SAP’s offerings and reimagine processes for improved business outcomes.

Expert's take Prashant Kumar, founder, weTrade, said that choppy market behaviour from September seems to have rolled over to October for the global crypto market cap. While Bitcoin is holding its $19,000 position on Thursday. «The market is prepping for another interest rate hike as the minutes from the US Federal Reserve’s September meeting, released on Wednesday, showed that higher rates would stay in place,» he added. The overall crypto market cap is hovering around the $918 mark. Bitcoin is exchanging hands at $19,088 while Ethereum is inching