Crypto On Dec. 8: Most Top Coins Dip Again After A Bullish Day

Once again, most of the top cryptocurrencies were trading in the red Tuesday. This came a day after a bullish trend loomed and pushed the global market cap by over 5%.

As of 2.21 a.m. ET, the global crypto market cap was down 0.46% at $2.37 trillion, CoinMarketCap data showed.

Bitcoin fell 1.15% in the last 24 hours to $50,537, bringing its value down 11.80% in the last week. The price of Bitcoin has remained bearish for weeks amid predictions of it touching the $100k mark.

Rival coin Ethereum fell 0.21% in the last 24 hours to trade at $4357. Both Bitcoin and Ether surged slightly Tuesday.

Among other top coins, Solana and Cardano plunged over 4%. Binance Coin and XRP were also in the red. Meme crypto Shiba Inu plunged 3.01% in the last 24 hours. Rival Dogecoin rose slightly.

The bearish trend loomed large after the crypto crash on the weekend spurred by prominent investor Louis Navellier's warning that the U.S. Federal Reserve’s tapering could burst the Bitcoin and crypto bubble.

As per crypto analysts, the emergence of the Omicron Covid-19 variant and the upcoming holiday season could also be among the reasons for the major crypto crash.

Polkadot, on the other hand, rose 2.19% in the last 24 hours.

The crypto market is extremely volatile and experts recommend investors not make decisions based on the sudden shift in prices.