Cryptocurrency prices rose during trading on Wednesday almost collectively led by Bitcoin, after a period of sharp decline due to concerns over the slowdown of the US economy.
Cryptocurrencies have sharply fallen in recent days, with escalating global trade tensions and increasing prospects of a trade war soon due to US tariffs.
The investors' aversion to high-risk assets caused a wide sell-off in the US market, surpassing efforts by President Donald Trump to support the crypto sector.
Trump had issued an executive order to create a strategic reserve of Bitcoin and a separate reserve of other cryptocurrencies, and this move was expected to provide significant support to digital currencies.
Bitcoin rose during today's session by 2% to be traded at $81,715, after falling below $80,000 during yesterday's trading.
The market capitalization of the most popular digital currency in the world increased to $1.62 trillion, while the trading volume on it dropped to $40.23 billion during the last 24 hours.
On a weekly basis, Bitcoin lost about 6.39% of its value, due to investors' aversion to high-risk assets.
As for the prices of other cryptocurrencies, the price of Ethereum fell by about 0.43% to reach $1,874.58.
$ETH
Cryptocurrencies have sharply fallen in recent days, with escalating global trade tensions and increasing prospects of a trade war soon due to US tariffs.
The investors' aversion to high-risk assets caused a wide sell-off in the US market, surpassing efforts by President Donald Trump to support the crypto sector.
Trump had issued an executive order to create a strategic reserve of Bitcoin and a separate reserve of other cryptocurrencies, and this move was expected to provide significant support to digital currencies.
Bitcoin rose during today's session by 2% to be traded at $81,715, after falling below $80,000 during yesterday's trading.
The market capitalization of the most popular digital currency in the world increased to $1.62 trillion, while the trading volume on it dropped to $40.23 billion during the last 24 hours.
On a weekly basis, Bitcoin lost about 6.39% of its value, due to investors' aversion to high-risk assets.
As for the prices of other cryptocurrencies, the price of Ethereum fell by about 0.43% to reach $1,874.58.
$ETH