Crypto On Jan 5: Bitcoin Continues The Slide, Ethereum Rises Slightly

Half of the top cryptocurrencies were trading in the green Wednesday morning, leading the global market cap to rise by 0.64% to $2.23 trillion as of 3.30 a.m. ET.

While Bitcoin continued to slide and was trading at $46,356, rival coin Ethereum surged 1.15% in the last 24 hours and was trading at $3,811, CoinMarketcap data showed.

Even as Bitcoin continues on the downward slope, experts still find it to be a winner.

“Even as the crypto market leans towards a bearish trend, Bitcoin has been heralded as a winner in the pandemic era, with its price-performance rising by over 80 per cent in 2021. The relatively consistent performance of top cryptocurrencies from Ether and Binance Coin over the past month is growing evidence of the maturation of the overall market,” the research team at CoinDCX told Gadgets 360.

The world's topmost coin, often referred to as digital gold, has the potential to take over gold real soon, Goldman Sachs said.

Among other top coins, Tether, Solana, Cardano and USD were trading in the green. Meme cryptos Shiba Inu and Dogecoin slipped 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.