Bitcoin, Ether Prices Continue Upward Trend as Some Altcoins' Values Fall Amid Month-End Volatility

Bitcoin kept its profit-streak alive on Monday as its price rose to $27,872 (roughly Rs. 22.9 lakh), a small gain of 1.11 percent.

Written by Radhika Parashar, Edited by David Delima | Updated: 27 March 2023 11:23 IST

Bitcoin, Ether Prices Continue Upward Trend as Some Altcoins' Values Fall Amid Month-End Volatility

Photo Credit: Unsplash/ Dmitry Demidko

The crypto market valuation, as of March 27, stands at $1.16 trillion

Highlights

Dogecoin saw its value fall on Monday
Shiba Inu, the popular memecoin, saw small gains
Both USD Coin and Bitcoin Cash also recorded losses

Bitcoin, after registering a significant growth rate this month, has now touched a nine-month high in value since June last year. On Monday, the world's most popular cryptocurrency kept its profit-streak alive with a small gain of 1.11 percent. Bitcoin, is currently trading at the price of $27,872 (roughly Rs. 22.9 lakh) on both national and international exchanges. Experts have predicted that Bitcoin presently faces immediate resistance at the price point of $28,150 (roughly Rs. 23.1 lakh) and breaching this mark could trigger a significant surge for BTC as well as the overall crypto market.

Ethereum recorded similar gains on Monday, following Bitcoin. At the time of writing, ETH was trading at $1,765 (roughly Rs. 1.45 lakh), an increase of 0.74 percent over its previous prce.

As per the crypto price tracker by Gadgets 360, Binance Coin, Polygon, Polkadot, Chainlink, and Leo followed BTC and ETH in registering profits.

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“Institutional investors in the US have majorly contributed to the price increase of Bitcoin in the last few days. Amidst existing liquidity crunch in the market, the overall sentiment in the crypto industry continues to be bullish. Bitcoin price rally has piqued the interest of many investors as the token is expected to enter a consolidation phase,” Rajagopal Menon, Vice President, WazirX told Gadgets 360.

The overall crypto market rose by one percent, over the last 24 hours, to $1.16 trillion (roughly Rs. 95,72,729 crore), as per CoinMarketCap data.

Meanwhile, some altcoins settled with losses in the backdrop of the month-end volatility brewing in the financial market. These include stablecoins USD Coin and Ripple as well as Cardano, Solana, Litecoin, Tron, and Avalanche.

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Industry experts estimate that the crypto market will only swell in time. “Experts are also touting the success of crypto as a criteria for elections across the world where voters would choose crypto friendly leaders,” Menon added.

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Cryptocurrency Prices across Indian exchanges

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Further reading: Bitcoin, Ether, Tether, USD Coin, Ripple, Binance USD, Binance Coin, Cardano, Polygon, Solana, Polkadot, Dogecoin, Shiba Inu, Litecoin, Uniswap, Tron, Monero, Dash, Wrapped Bitcoin, Bitcoin Cash, Flex, cryptocurrency

Radhika Parashar

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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