Bitcoin continues its fight against the fall that occurred last Friday when news of the new coronavirus variant tricked investors into selling off their crypto holdings. Bitcoin is trading at $59,271 (about Rs 44.46 lakh) on Indian exchange Coinswitch Kuber, up 0.57 per cent after a steady day’s trading on Tuesday, even though BTC closed at 1.97 per cent lower than its initial valuation. Global exchanges such as CoinMarketCap price the world’s most popular cryptocurrency at $57,136 (approximately Rs 42.86 lakh), where the cryptocurrency has lost 0.49 percent in value over the past 24 hours. The key indicator here that will cheer up the bulls is that BTC has moved closer to $60,000 (approximately Rs 44.99) in the past two weeks after being mainly bearish.
While there hasn’t been much growth in bitcoin trades over the past 24 hours, ether The big bullish continues with an increase of 6.73 percent in the last 24 hours. The world’s second most popular cryptocurrency on CoinSwitch Kuber is currently valued at $4,888.6 (approximately Rs.3.67 lakh), while the value cryptocurrency on global exchanges is pegged at $4,704.78 (approximately Rs.3.53 lakh) with an improvement of 5.24 percent in the last 24 hours. , Gadgets 360 cryptocurrency price tracker Turns out that the Ethereum-based coin has made a major recovery from the Black Friday dip to move closer to a new all-time high.
There is a saying in the crypto market that when bitcoin sneezes all other popular coins go cold, and of course the same goes for most other popular coins. tie rope, chain link, Wave, polka dot, polygon, And litecoin All have seen their prices rise in the last 24 hours, although the gains are not as significant as they were on Monday. Meanwhile, the only coin that suffered a slight drop in valuation is cardano, down 0.74 percent to $1.63 (about Rs 122.49).
meme coins dogecoin And Shiba Inu has also continued its forward momentum, although the latter is moving more rapidly. Dogecoin is currently trading up 0.18 percent at $0.23 (approximately Rs 16.92), while the Shiba Inu is valued at $0.000048 (approximately Rs 0.003589), up 8.08 percent over the past 24 hours. According to CoinGecko, the pressure from the SHIB over the past few days has seen its value increase by 14.4 percent over the past week.
Meanwhile on the arrival of the country crypto billThe government has said that it is on course to bring in a new bill on cryptocurrency after it is approved by the Union Cabinet.
The Cryptocurrency and Regulation of Government Digital Currency Bill has been included in the Lok Sabha Bulletin-Part II, as part of the government business to be conducted during the ongoing winter session.
The Bill seeks to create a facilitating framework for the creation of an official digital currency to be issued by the Reserve Bank of India (RBI) for the ongoing winter session of Parliament. It also seeks to ban all private cryptocurrencies in India, however, it allows some exceptions to promote the cryptocurrency and the technology underlying its use.
Finance Minister Nirmala Sitharaman also told the Lok Sabha As of Monday, the government has no proposal to recognize bitcoin as a currency in the country. He also told the House that the government does not collect data on bitcoin transactions.
Cryptocurrency is an unregulated digital currency, is not legal tender and is subject to market risks. The information in this article is not intended to be financial advice, trading advice or any other advice or a recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising out of any investment based on any alleged recommendation, forecast or any other information contained in the article.