Aminor consolidation was observed in the cryptocurrency market over the past 24 hours, leading to a fall in the value of popular cryptocurrency.

Bitcoin, the world’s most popular cryptocurrency, has seen a dip of over 1 per cent over the past 24 hours. It was trading at $49,660 at 11:50 am and the market capitalisation has dipped to $933 billion.

It may be noted that Bitcoin had crossed $50,000 for the first time in three months yesterday.

Cryptocurrency highlights | Check yesterday’s prices

Ether’s valuation, however, increased marginally by 0.14 per cent and the cryptocurrency was trading at $3,334.73. The market capitalisation has increased to $390.66 billion.

Most other altcoins saw a dip in valuation over the past 24 hours except Cardano and XRP, which rose marginally.

Experts remain optimistic about the future trajectory of the cryptocurrency market despite minor consolidations along the way.

Commenting on the cryptocurrency market, Edul Patel, CEO and Co-founder of Mudrex, a global algorithm based crypto trading platform, “The crypto markets are facing a minor consolidation. Bitcoin fell lower after touching the $50,000 mark for the first time after May.”

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“Despite the consolidation in Bitcoin, the Altcoins are looking pretty strong at the moment. Eth remained firm over the $3300 mark, and Cardano had the third-highest traded volumes over the past 24 hours, after Bitcoin and Ether,” he added.

DISCLAIMER: The cryptocurrency prices have been updated as of 9:45 am and will change as the day progresses. The list is intended to give a rough idea about popular cryptocurrency trends and be updated daily.