Bitcoin rises to $50,000 mark for first time in 4 weeks; Check crypto prices on Oct 6

In a recent update to the cryptocurrency market trend, cryptocurrency prices stayed in the green as of Wednesday, October 6. A 3.06 per cent decline was observed over the last 24 hours, with the global cryptocurrency market cap at $2.22 trillion. At the same time, an 2.39 per cent increase was as the total crypto market volume over the last 24 hours is $110.8 billion. The largest virtual currency, Bitcoin, rose above the $50,000 mark for the first time in four weeks. Bitcoin price is trading at $51,205.16, and its dominance is currently 43.58 percent, with an increase of 0.56 percent over the day. Amid a broader selloff in shares of cryptocurrency, on September 7, the currency fell below the current marketing price and continued to fall in September, hitting a low of $40,596 on September 21.

Analysing the Bitcoin market, Edul Patel, CEO, and Co-founder, Mudrex, stated, "Bitcoin surpassed the $50,000 mark, and this made a lot of investors very happy. The coming 24 hours would likely be a period of consolidation as there could be some profit booking across the spectrum". While Sharan Nair, Chief Business Officer, CoinSwitch Kuber, said, "The market has been recovering with Bitcoin and Ethereum in the green zone. Hopefully, we can expect some momentum in the coming few days." 

Prices of cryptocurrency on October 6

Bitcoin - $51,310, up by 4.48 per cent in the last 24 hours

Ether - $3,487, up by 3.3 per cent up in the last 24 hours

Binance Coin - $439.20, up 3.08 per cent in the last 24 hours

Cardano - $2.23, up by 1.05 per cent in the last 24 hours

Tether - $1.00, up by 0.07 per cent in the last 24 hours

XRP - $1.07, up by 2.51 per cent in the last 24 hours

Solana - $161.11, down by 2.34 per cent in the last 24 hours

Dogecoin: $0.2518, up by 4.70 per cent in the last 24 hours

USD Coin $0.9998, up by 0.5 per cent in the last 24 hours

Polkadot - $31.09, down by 0.17 per cent in the last 24 hours

Image: UNSPLASH