Minor fluctuations keep crypto market calm, Bitcoin and Ether register minimal losses

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In the middle of the second week of December, Bitcoin opened on Wednesday with a minor loss of 0.90%. The world’s most popular cryptocurrency is currently trading at $ 53,619 (around Rs. 40 lakh) according to India’s CoinSwitch Kuber exchange. On international exchanges such as CoinMarketCap and Binance, the world’s oldest cryptocurrency is traded for around $ 50,000 (around Rs. 38 lakh) per token. While Bitcoin’s overall status gradually improves, its daily position remains quiet in terms of gains or losses. Bitcoin recently fell from its all-time high of $ 68,327.99 (around Rs. 50.5 lakh) after India’s plans to ban cryptocurrencies emerged online.

Like Bitcoin, Ether also opened the day with a minimum loss of 0.14%. Right now, the world’s second most valued cryptocurrency is trading at $ 4,612 (around Rs. 3.4 lakh), according to crypto price tracker Gadgets 360. Despite the ups and downs in the market, Ether’s commercial values ​​remained above $ 4,400 (about Rs. 3 lakh).

Cardano, Ripple, Shiba Inu, and Polygon also joined Bitcoin and Ether on the loss wagon with minor changes.

In the list of altcoins that posted gains, Tether, USD Coin, Dogecoin, Litecoin, Uniswap, and Chainlink made the cut.

“Over the next few days, we may see limited movement in the cryptocurrency market,” Edul Patel, CEO and co-founder of crypto investment firm Mudrex told Gadgets 360.

The adoption of crypto around the world is gaining momentum. A recent study found that the number of crypto users rose to 28.8% this year, a 10% increase from the 18.4% recorded last year.

Right now, the adoption of cryptocurrencies is facing resistance from countries like India. India’s Ministry of Finance has drafted a crypto bill that calls for a ban on private cryptocurrencies. The bill also seeks to ensure that those who break the law are arrested without a warrant and held without bond in addition to facing heavy fines.

The bill will be presented to the Indian parliament after obtaining Cabinet approval.

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.

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