Bitcoin Sees Slump After Trading at Above $58,000, Ether Prices Reach Month-High


Bitcoin had another positive day of trading but saw a major drop at $56,934 (around Rs 42,87,532) on Thursday at the end of the day’s trading. However, at day’s highs, the largest cryptocurrency by market capitalization was seen above $58,300 (approximately Rs 43,95,359) and opened higher on Friday as well. Bitcoin valuation at the time of writing on Indian exchanges like Coinswitch Kuber is Rs. 46,36,671 (approximately $61,570), showing an increase of 2.31 percent since the start of trading this morning.

Bitcoin Investors are optimistic but it has turned out to be a good week for Ether traders as well. Gadgets 360 cryptocurrency price tracker suggests that the Ethereum-based crypto-asset saw another 4.10 percent increase. ether Opened on Friday at a valuation of Rs. 2,95,802 (approximately $3,927), a number that is already Rs. 2,98,619 (about $3,965) at the time of filing the story. While the price does not yet suggest a solid bull run, a could be around the corner as DeFi projects start accumulating more Total Value Locked (TVL).

Popular altcoins also had a good day. whereas polka dot The biggest increase occurred on Wednesday, this boom has stopped for now. cardano, Wave, dogecoin And litecoin All ended in green. uniswap It was the biggest beneficiary of the day, adding more than 8.5 percent to its value.

Miami Mayor Francis Suarez recently said the city would offer government employees a formal offer of their salaries salary in bitcoin and allows citizens to pay city taxes using cryptocurrency later this month. Miami previously offered a proposal for the city to be able to invest in bitcoin, but Florida’s borders currently do not allow local governments to transact in such volatile assets.

Suarez slammed JPMorgan Chase CEO Jamie Dimon for calling bitcoin “useless” in a separate interview. Bitcoin is “definitely not worthless,” Suarez said, explaining how rapidly the cryptocurrency has grown in value over the past year.

Bitcoin’s good week is also expected to end higher reports suggesting that the US Securities and Exchange Commission may be very close to approving the first bitcoin futures exchange-traded fund in the country.

Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain of classGadgets 360 Podcast. orbital is available Apple Podcasts, google podcasts, Spotify, amazon music And wherever you get your podcasts.

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