Bitcoin, Ether Among Several Cryptocurrencies Register Cascading Values, Red Colour Dominates Charts

While Bitcoin is trading at $50,553 (roughly Rs. 38 lakh), Ether is $4,050 (roughly Rs. 3 lakh) with losses of 3.43 percent and 5.45 percent respectively.

Bitcoin, Ether Among Several Cryptocurrencies Register Cascading Values, Red Colour Dominates Charts

Photo Credit: Unsplash/ Executium

Despite its present volatile nature, discussions around crypto adoption are sparking around the world

Highlights
  • Bitcoin has entered its fourth week of little or no improvement
  • Tether, USD Coin, and SushiSwap cryptocurrencies registered gains
  • Crypto market likely to remain tricky around Christmas

Maintaining its streak of more losses and lesser gains, Bitcoin rang in Tuesday, December 14 with an overall fall of 3.43 percent in its value. On Indian exchange CoinSwitch Kuber, the world's oldest cryptocurrency is trading at $50,553 (roughly Rs. 38 lakh). On international exchanges like CoinMarketCap, Bitcoin value is hovering around $47,235 (roughly Rs. 35 lakh). This is the fourth consecutive week that Bitcoin has failed to rally closer to its all-time high of $68,327.99 (roughly Rs. 50.5 lakh).

As Bitcoin struggles to recover in value, Ether has also remained quiet in terms of its ups and downs in recent days.

Registering a loss of 5.45 percent, the world's second-most valued cryptocurrency is presently trading at $4,050 (roughly Rs. 3 lakh) per token, as per the Gadgets 360 crypto price tracker.

Cardano, Ripple, Polkadot, Dogecoin, and Shiba Inu also found their places on the list of cryptocurrencies whose prices bounced for a bit but eventually settled with losses.

On the other hand, only Tether, USD Coin, and SushiSwap emerged as gainers with only minor changes in their values.

Ahead of Christmas, industry experts predict the crypto market volatility to remain active in the coming days.

“The two largest cryptocurrencies by market cap, Bitcoin and Ether, continued to hover around their inflection points. Although Ether dropped below the crucial support at $4000 (roughly Rs. 3 lakh) at one point, Bitcoin remained fairly range-bound. With the ‘cryptocurrency fear and greed' index showing fear in the market, we can expect the coming few days to remain volatile,” Edul Patel, CEO and Co-Founder of crypto investment firm Mudrex told Gadgets 360.

Meanwhile, crypto adoption remains a matter of discussion in a bunch of nations.

Recently, a Nigerian minister advised the government there to keep an open approach towards crypto adoption.

Indian Prime Minister Narendra Modi has also recently said that cryptocurrencies should be used to empower democracy, not undermine it. His statements came at a time Indian policymakers fear that unregulated transactions in digital currencies could hurt macroeconomic and financial stability.


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.Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

Cryptocurrency Prices across Indian exchanges

Comments

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Radhika Parashar
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
Adobe Creative Cloud Express Launched as Unified Web, Mobile Product to Help Create and Share Content
Read in: हिंदी
Share on Facebook Tweet Snapchat Share Reddit Comment

Advertisement

Advertisement

© Copyright Red Pixels Ventures Limited 2022. All rights reserved.