Bitcoin has continued to fight the slide that took place last Friday when news of the new variant of the coronavirus sent investors rushing to sell their cryptocurrency holdings. Bitcoin is trading at $ 59,271 (roughly Rs. 44.46 lakh) on Indian exchange CoinSwitch Kuber, up 0.57 percent after a steady day on Tuesday, despite BTC closing at 1.97 percent. percent below your opening rating. Global exchanges like CoinMarketCap value the world's most popular cryptocurrency at $ 57,136 (roughly Rs. 42.86 lakh), where the value of the cryptocurrency appears to have fallen 0.49 percent in the past 24 hours. The key metric here that would make the bulls happy is the fact that BTC is slowly approaching the $ 60,000 mark (roughly Rs. 44.99) after a predominantly bearish last two weeks.
While Bitcoin trading hasn't moved drastically in the last 24 hours, Ether it continues to rebound in a big way, with a 6.73 percent increase in the last 24 hours. The second most popular cryptocurrency in the world is currently valued at $ 4,888.6 (roughly Rs. 3.67 lakh) on CoinSwitch Kuber, while securities on global exchanges see the crypto pegged at $ 4,704.78 (roughly Rs. 3.53 lakh) with a 5.24 percent improvement in the last 24 hours. . Gadgets 360's cryptocurrency price tracker reveals that the Ethereum-based currency has rebounded in a big way from the Black Friday crash to approach a new all-time high.
There is a saying in the cryptocurrency market that when Bitcoin sneezes, all other popular currencies catch a cold, and that has certainly been the case for most other popular currencies. Tie, Link of the chain, Wave, Moles, Polygon, and Litecoin all have seen their values โโrise in the last 24 hours, although the gains have not been as substantial as they were on Monday. Meanwhile, the only currency that suffered a small drop in valuation is Cardano, falling 0.74 percent to a value of $ 1.63 (approximately Rs 122.49).
Even corners Dogecoin and Shiba Inu They have also continued their forward momentum, although the latter has advanced more quickly. Dogecoin is currently trading at $ 0.23 (approximately Rs. 16.92) with an increase of 0.18 percent, while Shiba Inu is valued at $ 0.000048 (approximately Rs. 0.003589), an increase of 8.08 percent in the last 24 hours. According to CoinGecko, SHIB's momentum in recent days has seen its value rise 14.4 percent over the past week.
Meanwhile, at the entrance of the country cryptocurrency bill, the government has stated that it is on track to introduce a new cryptocurrency bill after it is approved by the Union Cabinet.
The bill on cryptocurrencies and regulation of the official digital currency has been included in the Lok Sabha Bulletin, Part II, as part of the government activities that are expected to take place during the current winter session.
The bill seeks to create an enabling framework for the creation of the official digital currency that will be issued by the Reserve Bank of India (RBI) for the current winter session of Parliament. It also seeks to ban all private cryptocurrencies in India, however, it allows certain exceptions to promote the underlying cryptocurrency technology and its uses.
Finance Minister Nirmala Sitharaman also told the Lok Sabha On Monday, that government has no proposal to recognize Bitcoin as a currency in the country. He also informed the Chamber that the government does not collect data on Bitcoin transactions.
Cryptocurrency is an unregulated digital currency, it is not a legal tender and is subject to market risks. The information provided in the article is not intended to be or constitutes 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 arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
