Bitcoin Shocks for the Third Consecutive Day, While Altcoins Shock Over the Weekend
Bitcoin has dropped for the third day in a row, with the bears gaining ground in lowering the BTC price. The short-term gains at $20,000 (roughly Rs. 15.8 lakh) may be put to the test as the short-term rise fails. Bitcoin is valued at $21,606 (roughly Rs. 17.1 lakh) on global exchanges.
Bitcoin is worth $20,587 (roughly Rs. 16.3 lakh) on global exchanges like CoinMarketCap, Coinbase, and Binance, while CoinGecko data shows that BTCs are currently up 6.4 percent week over week.
The cryptocurrency ether hasnt had a good weekend either. On CoinSwitch Kuber, the cryptocurrency is valued at $1,219 (roughly Rs. 96,555) and on global exchanges, the cryptocurrency is valued at $1,154 (roughly Rs.91,358).
According to CoinGecko data, the value of etheres has risen to a 6.3% upside down in comparison to its value last Monday.
The Gadgets 360 cryptocurrency price tracker represents much of what we see with BTC and ETH at the moment, with almost all of better-known altcoins reporting losses over the weekend as the global crypto market capitalization fell by 3.3 percent through Sunday and early Monday.
BNB, Solana, Polygon, Stellar, Avalanche, and Cardano all suffered losses, while Monero, Chainlink, Uniswapand Cosmos managed to hold on to their levels of on Saturday.
Dogecoin and Shiba Inu have also had little drop in value over the past few days, although Dogecoin is currently valued at $0.07 (roughly Rs. 5.6) after losing some 0.77 percent in value over the last 24 hours. Shiba Inu is currently valued at $0.000011 (roughly Rs. 0.000908), after being down by 2.26 percent in value over the previous day.
BTC, which has declined by 8% in the last week, is likely to rise further than its $21,000 (roughly Rs. 16.62 lakh) price. However, the revenue of projects based on the network is also expected to fall to the $1,000 (roughly Rs. 95,000) level soon, according to Edul Patel, CEO and co-founder of cryptocurrency investment company Mudrex.
The use of the cryptocurrency is not regulated, is not a legal tender, and is subject to market fluctuations. NDTV does not intend to provide financial advice, trading advice, or any other advice or recommendation of any kind offered or endorsed by the organization.
