Bitcoin, Ether among several cryptocurrencies record cascading values, red color dominates charts

0


Continuing its streak of larger losses and smaller gains, Bitcoin rang on Tuesday, December 14 with an overall drop of 3.43% in value. On Indian exchange CoinSwitch Kuber, the world’s oldest cryptocurrency trades at $ 50,553 (around Rs. 38 lakh). On international exchanges like CoinMarketCap, the value of Bitcoin hovers around $ 47,235 (around Rs. 35 lakh). This is the fourth week in a row that Bitcoin has failed to approach its all-time high of $ 68,327.99 (around Rs. 50.5 lakh).

While Bitcoin struggles to regain value, Ether has also been silent in terms of ups and downs in recent days.

Recording a loss of 5.45%, the world’s second most valued cryptocurrency is currently trading at $ 4,050 (around Rs. 3 lakh) per token, according to crypto price tracker Gadgets 360.

Cardano, Ripple, Polkadot, Dogecoin, and Shiba Inu also found their way onto the list of cryptocurrencies whose prices rebounded a bit but ultimately ended in losses.

On the other hand, only Tether, USD Coin and SushiSwap emerged as winners with only minor changes in their values.

Leading up to Christmas, industry experts predict that volatility in the crypto market will remain active for the next few days.

“The two largest cryptocurrencies by market cap, Bitcoin and Ether, have continued to hover around their inflection points. Although Ether fell below the crucial support at $ 4000 (around Rs. 3 lakh) at one point, Bitcoin remained quite limited. With the ‘cryptocurrency fear and greed’ index showing fear in the market, we can expect the next few days to remain volatile, ”said Edul Patel, CEO and co-founder of the investment firm. crypto Mudrex at Gadgets 360.

Meanwhile, the adoption of crypto remains a topic of discussion in many countries.

Recently, a Nigerian minister advised the government to keep an open approach towards adopting crypto.

Indian Prime Minister Narendra Modi also recently said that cryptocurrencies should be used to strengthen democracy, not undermine it. His statements came at a time when Indian policymakers fear that unregulated transactions in digital currencies could harm macroeconomic and financial stability.


Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting Founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.Cryptocurrency is unregulated digital currency, not legal tender and subject to market risk. The information provided in the article is not intended to be and does not constitute financial advice, business advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV will not be liable for any loss resulting from any investment based on any perceived recommendation, forecast or any other information contained in the article.


Share.

Comments are closed.