Bitcoin, Ether Prices Rise in Fluctuating Market Movement; Losses Hit Several Popular Altcoins

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The overall crypto market is grappling with back-to-back massive lows. Last week, several cryptocurrencies crashed, including Bitcoin. With a marginal gain of 0.50%, Bitcoin trading opened at $39,496 (roughly Rs. 30 lakh) on Monday, January 24 on Indian exchange CoinSwitch Kuber. Also on international exchanges, the cryptocurrency recorded small gains, less than one percent. Bitcoin is trading at around $35,000 (roughly Rs. 25 lakh) on exchanges like CoinMarketCap and Binance, among others. This is the lowest Bitcoin price so far in 2022.

Alongside Bitcoin, Ether also recorded minor price increases. With a price increase of 0.90%, Ether is currently trading at $2,747 (roughly Rs. 2 lakh) according to crypto price tracker Gadgets 360.

Binance Coin, Ripple, Avalanche, Cosmos, Litecoin, and Chainlink emerged as winners on the price chart.

In good news for Dogecoin investors, the meme-based cryptocurrency has finally managed to break its losing loop after weeks. The Elon Musk-backed altcoin saw a minor gain of 0.90% to trade at $0.16 (about 10 rupees).

Meanwhile, rival Doge Shiba Inu, along with Tether, USD Coin, Cardano, Solana, and Polkadot are on the shortlist.

Overall, the crypto market is out of whack right now. On Friday, January 21, several cryptocurrencies including Bitcoin crashed.

The main reason for this stock market crash is believed to be the Russian Central Bank’s proposal to ban cryptocurrencies.

Last week, Russia’s top lender said the use and mining of cryptocurrencies could pose threats to the nation’s financial stability while jeopardizing the central bank’s monetary policy sovereignty. , according to reports.

Also earlier, Russian President Vladimir Putin slammed the crypto space, calling the market very risky.

As of now, the crypto market is far from having substantially recovered from the recent crash.

Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting Founder Alok Jain on Orbital, Gadgets 360 Podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get it. your podcasts.

Cryptocurrency is an unregulated digital currency, which is not legal tender and is 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 shall 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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