Bitcoin lost value by more than 20 percent in these last two days. The cryptocurrency is currently trading at $ 59,817 (roughly Rs. 44.6 lakh) with a 1.24 percent gain on Indian exchange CoinSwitch. On the international exchange CoinMarketCap, the first cryptocurrency is worth $ 58,000 (roughly Rs. 43 lakh). This current situation for Bitcoin is in stark contrast to what it was a few days ago when the token was hovering around its all-time high of $ 68,327.99 (roughly Rs. 50.5 lakh). The cryptocurrency market crashed earlier this week after India's proposal to ban "private cryptocurrencies" was placed on the parliament's agenda.
Ether has managed to break free from the negative spell of the market before Bitcoin. With a 3.85 percent gain, Ether entered on Friday, November 26, trading at $ 4,573 (roughly Rs. 3.4 lakh), according to Gadgets 360. cryptocurrency price tracker. Earlier this month, Ether had also created a new all-time high of $ 4,811 (roughly Rs. 3.5 lakh).
The green color dominating the cryptocurrency price chart today indicates that most popular cryptocurrencies include Tie, Wave, USDCoin, and Dogecoin recorded increases in its commercial values.
On the other hand, some tokens like Cardano, Moles, and Shiba Inu Marginal falls recorded.
India is preparing to bring the crypto issue to the parliamentary table in the coming days. For now, the country is considering banning everyone. "private cryptocurrenciesWithout giving more details on the definition of the term.
Also, the risks that cryptocurrencies are prone to become a topic of discussion among enthusiasts. Recently after FBI warned people against the rise of crypto scams, Shiba Inu's team notified investors about a cheat-scam doing rounds in Telegram.
Tesla CEO Elon musk also seconded an idea about Twitter which pushes investors to keep their crypto assets in private wallets instead of keeping their custody with centralized exchanges such as Binance and Robin Hood.
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.
