World’s largest traded cryptocurrency bitcoin fell nearly 2% today a day after it crossed the $50,000 mark since three months. On Coinmarketcap, the price of bitcoin fell 1.86% to $49,259.
Market cap of the cryptocurrency slipped to $926.156 billion.
Bitcoin has risen 69.51% since the beginning of this year. Currently, the global crypto market cap stands at $2.14 trillion, 0.80% lower over the last day.
Other cryptocurrencies were also trading in the red today.
Ethereum declined 0.73% to $3,328 and Dogecoin lost 3.53% to $0.313. Digital token Stellar fell 1.93% to $0.3732 and XRP was down 1.43% to $1.22.
Litecoin declined 1.72% to $185.81 and Uniswap fell 2.10% to $28.73.
Of late, crypto prices have risen on the back of comments from billionaire Elon Musk and Ark Investment Management LLC’s Cathie Wood.
In late July, Elon Musk said Tesla was “most likely” to start accepting bitcoin as payment again. The comment helped the cryptocurrency race past the $30,000 level. The electric carmaker said in May that it would no longer accept the cryptocurrency for purchases.