Price Drops Riddle Crypto Charts as Bitcoin, Ether Join Majority Cryptocurrencies in Loss Club

Both Bitcoin and Ether emerged as weak performers stepping further into December.

By Radhika Parashar | Updated: 20 December 2021 11:19 IST

Price Drops Riddle Crypto Charts as Bitcoin, Ether Join Majority Cryptocurrencies in Loss Club

Photo Credit: Unsplash/ Executium

With the overall crypto market performing poorly, it remains unclear if investors will get good returns

Highlights

Cardano and Polkadot registered losses
Tether, USD Coin, and Ripple pumped in values
Analysts have predicted market volatility in the coming days

Entering into the third week of December, the crypto price charts failed to register ay major recovery in terms of price. Bitcoin stepped into Monday, December 20 trading at $49,291 (roughly Rs. 37.5 lakh), showing a loss of 2.05 percent on Indian exchange CoinSwitch Kuber. At this time, the price of Bitcoin is even lower than what it was for most of last week, breaching the mark of $50,000 (roughly Rs. 38 lakh). On International exchanges like Binance and CoinMarketCap, Bitcoin prices are currently hovering around $46,775 (roughly Rs. 35.5 lakh).

With a loss of 1.83 percent, Ether stepped into Monday, trading at $4,128 (roughly Rs. 3 lakh). As per the Gadgets 360 crypto price tracker, Ether's previous closing value was $4,203 (roughly Rs. 3.2 lakh).

Joining the top two cryptocurrencies on loss wagon, Cardano, Polkadot, Dogecoin, Shiba Inu, and Polygon also registered marginal price dips.

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On the other hand, Tether, USD Coin, Ripple, and Litecoin emerged as part of the small bunch of cryptocurrencies that pumped in values.

Presently, it remains unclear if the crypto market will bear any gifts for investors around the upcoming Christmas and New Year festivities

Last week, industry experts had predicted that the cryptocurrency market is currently plagued by fear and greed and could remain volatile in the coming days.

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It is noteworthy that the crypto market is failing to steam up despite several fintech firms enabling crypto gifting options this holiday season.

Jack Dorsey's online payments firms Cash App and Block have integrated crypto support to the apps using which, people can gift Bitcoin tokens for as less $1 (roughly Rs. 77) to their friends and family.

In fact, stock and crypto trading platform Robinhood is also expanding its services by adding the crypto gifting feature to its popular app. Still in its Beta version, the feature is presently being tested, Bloomberg had recently reported.

Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

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Cryptocurrency Prices across Indian exchanges

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Further reading: Bitcoin, Ether, Cardano, Tether, Dogecoin, Shiba Inu, Polygon, Ripple, Litecoin

Radhika Parashar

Email Radhika

Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More