Bitcoin, Ether, Dogecoin, Shiba Inu See Big Dips As Global Crypto Market Cap Dips 5%

[ad_1]

Bitcoin prices continued to fall despite signs of recovery on Thursday morning. Bitcoin is currently trading at $ 60,879 (around Rs 45.2 lakh) on India’s CoinSwitch Kuber exchange while global exchanges like CoinMarketCap value the most popular cryptocurrency at $ 55,950 (around Rs. 41.5 lakh. ). As a percentage, the past 24 hours have seen Bitcoin slide 7.55%, plunging well below the $ 60,000 mark (around Rs. 44.7 lakh) that it has been hovering for the past few days. It also marks the cryptocurrency’s lowest valuation in more than a month, in stark contrast to the record high of $ 68,990 (around Rs. 51.18 lakh) reached last week.

Bitcoin’s woes appear to have spilled over to all other crypto assets as well, as the global crypto market cap has seen an overall decline of 5%. Ether has fallen 6.84% in the past 24 hours to be valued at $ 4,406 (around Rs. 3.27 lakh) on CoinSwitch Kuber while values ​​on global stock exchanges experience an average decline of 5. 28% to $ 4,042 (around Rs. 3 lakh). Gadgets 360’s cryptocurrency price tracker shows the Ethereum-based cryptocurrency has suffered a correction of more than 15% from its all-time high on November 10 of $ 4,870 (around Rs. 3.61 lakh) .

“Crypto market saw 24 hour volatility as BTC fell to $ 57,000 [roughly Rs. 42.3 lakh]. Biggest altcoin, Ether, has come close to $ 4,000 [roughly Rs. 2.96 lakh] Mark. All of the top 30 cryptos, except stablecoins, ended in red. As the weekend approaches, the next 24 hours would likely remain volatile, ”says Edul Patel, CEO and co-founder of AI-based crypto investment platform Mudrex.

The crypto market tracker is certainly not pleasant to see today, as red dominates the 24 hour change tab. Cardano, Polygon, Ripple, Polkadot and Tether have seen big slips.

Dogecoin and Shiba Inu coins showed minor signs of a midweek recovery, but saw steep declines through Thursday. While DOGE is currently trading at $ 0.23 (approx Rs 17.80) down 9.21% in the past 24 hours, Shiba Inu is valued at $ 0.000042 (approx Rs 0.003149) , down 11.95%.

Prime Minister Narendra Modi said on Thursday that all democratic nations must work together to ensure that cryptocurrency “does not end up in the wrong hands, which can spoil our youth” during a keynote address. Prime Minister Modi’s first public comments on the topic of cryptocurrencies came after he called a high-level meeting with market participants last week, held to discuss issues related to crypto regulation. and to hear concerns about the current state of affairs in the unregulated crypto market in India. .

The government aims to introduce and pass a cryptocurrency law during the parliamentary session that begins this month.

Closer to home, the Chinese government is not releasing any pressure on its internal crypto crackdown, as popular cryptocurrency media now appear to have started to suspend operations. Both ChainNews and Odaily crypto outlets have become inaccessible over the past few days and neither outlet has indicated a reason. Instead, the two outlets continued their activity on Twitter and Telegram, apps banned in China.

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 a perceived recommendation, forecast or any other information contained in the article.

[ad_2]