Cryptos On Dec 23: Bitcoin, Ether Back In Red; Meme Cryptos Rise

Top cryptocurrencies plummeted once again after the bullishness in the market the past two days, causing their global market cap in the last 24 hours to fall 0.44% to $2.28 trillion as of 1.49 a.m. ET.

While Bitcoin fell 1.82% in the last 24 hours to $48,321, Ethereum slid 2.5% to trade at $3,948, CoinMarketCap data showed. Both top coins touched their record highs on Nov.9 and have been falling since. Analyst and traders still are holding on to the hope that the crypto market will grow next year.

Six of the top ten coins were trading in the red Thursday early morning. It was difficult to pinpoint a trigger for the renewed bearishness amid the festive cheer.

There were some green splashes too. XRP and Cardano rose over 3% in the last 24 hours. Meme cryptos Dogecoin and Shiba Inu were also trading in the green.

Former President Donald Trump renewed his criticism of cryptocurrencies in an interview on Fox Business this week, calling it a “very dangerous thing," and an "explosion like we have never seen." Interestingly, former first lady Melania Trump last week launched her first NFT, titled "Melania's vision," on the Solana platform.

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