Cryptocurrency prices Bitcoin, Shiba Inu, Dogecoin etc Saturday (27) dropped again, what’s up?

Reporter: Adi Wikanto | Editor: Adi Wikanto

KONTAN.CO.ID – Jakarta. The price of cryptocurrencies or crypto currencies such as Bitcoin, Ethereum, Dogecoin, Shiba Inu, Solana etc. has fallen again. Will the decline in the price of Bitcoin, Ethereum, Dogecoin, Shiba Inu, Solana etc. cryptocurrencies continue or is it temporary?

On trading Saturday 27 November 2021 at 08:40 WIB, the price of Bitcoin, the world’s largest cryptocurrency, fell 7.64% in the last 24 hours to US $ 54,331.11 per chip.

The price of Bitcoin cryptocurrency, which is around US$ 54,000, is the lowest since October 2021. The price of Bitcoin has reached its highest point of US$ 69,000 in November 2021.

Among the other 10 largest cryptocurrencies, the price of Ethereum (second largest) fell 9.37% to US$ 4,087.07. The price of the cryptocurrency Binance Coin (the third largest) fell 9.62% to US$ 589.58.

Cryptocurrency price of Tether (fourth largest) fell 0.01% to US$1. Solana’s (fifth-largest) cryptocurrency fell 6.99% to US$193.90.

Also Read: Affected by the effects of the new corona variant, the price of Bitcoin tumbled to below US$ 55,000

The price of Dogecoin, which was once popular and is now the 10th largest, fell 7.53% to US$ 0.204.

The price of another ever trending cryptocurrency, the Shiba Inu, fell 6.08% to US$ 0.00003879. The drop in the price of the Shiba Inu saw this cryptocurrency drop from the top 10, thus sitting at number 12.

Compiled from Kompas.com, the cause of the decline in the price of cryptocurrencies such as Bitcoin, Ethereum, Dogecoin, Shiba Inu, Solana etc. is allegedly related to the emergence of a new variant of Covid-19 on the African continent.

On Thursday, the World Health Organization (WHO) announced the discovery of a variant B.1.1529 containing more than 30 mutations. A number of countries have reportedly suspended flights to the African region.

“Investors are trying to reduce their exposure to uncertainty regarding the effects of the new Covid variant on the economy and financial markets,” said Farah Mourad, senior market analyst at XTB Crypto.

In addition, there are other threats to crypto from regulators. Earlier this week, the Indian government announced plans to pass a law that would ban most cryptocurrencies. “This could have an impact, resulting in fluctuations like when China banned crypto,” Mourad added.

So, will the price of cryptocurrencies like Bitcoin, Ethereum, Dogecoin, Shiba Inu, Solana continue to fall? We’ll see on next week’s trading