Bitcoin, the world’s largest cryptocurrency by market capitalization, sent other crypto assets into go-slow mode after losing more than 4 percent of its value over the weekend. However, things have been looking up since the beginning of the week. Bitcoin’s value has marginally increased by 0.65 percent over the past day and is hovering below $20,000 (approx. Rs. 15.97 lakh) on global exchanges, while Indian exchange CoinSwitch’s Kuber BTC value is at $19,873 (approx. = 15.97 Rs. ) lakh), up 0.65 percent from yesterday.
Bitcoin is priced at $19,875 (Rs. 15.87 lakh approx) on global exchanges like CoinMarketCap, Coinbase and Binance while CoinGecko data shows that the value of BTC is currently 1.1 percent higher than where it stood last Monday.
Heading into the week of the long-awaited ‘merge’, Ether, on the other hand, has continued to rise in value, managing to add more to its price over the weekend. Ether is valued at $1,576 (roughly Rs. 1.25 lakh) on CoinSwitch Kuber, while the crypto is valued at $1,576 (roughly Rs. 1.25 lakh) on global exchanges, where the cryptocurrency is up over 1.7 percent. . Last 24 hours.
Given Ether’s performance in the latter stages of last week, the cryptocurrency’s value has risen significantly from what it was last week, CoinGecko data It indicates that the world’s second-largest crypto asset has gained 9.5 percent in value week-on-week.
Gadgets 360’s cryptocurrency price tracker shows that most major altcoins have seen minor gains over the past 24 hours. The global crypto market capitalization increased by a significant 0.81 percent late Sunday and early Monday.
Polkadot, Uniswap, Cosmos, Solana, Monero, Cosmos, Avalanche, Cardano, Polygon, TRON and BNB all made minor gains in the last 24 hours.
Memecoins Shiba Inu and Dogecoin also followed most altcoins with minor value gains. Dogecoin is currently valued at $0.06 (approximately Rs. 5.3) after gaining 0.85 percent in the last 24 hours, while Shiba Inu is valued at $0.000013 (approximately Rs. 0.001018), up 3.76 percent over the past day.
“The global crypto market is bearish as sellers have become more active since last week. Bitcoin is struggling to cross the $20,000 (approx. Rs. 15.97 lakh) level. BTC is currently about 71 percent below all-time highs. If BTC can trade above the overhead resistance level If there is, the bulls may try to regain the $20,000 price level soon. But if BTC continues to face rejections, it may fall to the $18,000 (approx. Rs. 14.37 lakh) support level,” Edul, CEO and co-founder of crypto investment firm Mudrex Patel explains while talking to Gadgets 360.
“The second largest cryptocurrency, Ethereum, is also struggling near the $1,600 (approx. Rs. 1.27 lakh) resistance level. A bearish trend at the $1,400 (approx. Rs. 1.11 lakh) zone could push ETH price down to further support. $1,260 (approx. Rs. 1 lakh) ) levels. Overall, the bearish trend in the crypto market continues and we may see a correction in the coming weeks,” Patel added.
Cryptocurrency is an unregulated digital currency, not legal tender and subject to market risk. The information provided in the article is not and is not intended to constitute financial advice, business advice or any kind of advice or recommendation offered or endorsed by NDTV. NDTV shall not be liable for any loss arising from any investment based on any perceived recommendations, estimates or any other information contained in the article.
