Bitcoin, Ether Register Lows Along With Majority Altcoins, Crypto Price Charts Plunge into Red Again

Despite marginal lows, both Bitcoin as well as Ether remained above $50,000 (roughly Rs. 37.4 lakh) and $4,200 (roughly Rs. 3.14 lakh), respectively.

By Radhika Parashar | Updated: 28 December 2021 11:24 IST

Bitcoin, Ether Register Lows Along With Majority Altcoins, Crypto Price Charts Plunge into Red Again

Photo Credit: Unsplash/ Executium

Crypto trading volume has reached $75.03 billion (roughly Rs. 5,63,587 crore)

Highlights

Bitcoin and Ether have registered marginal losses
Tether and Cardano were among the few gainers
Industry experts predict crypto movement to remain range-bound

Crypto market, under the effect of daily fluctuations, ended up fluctuating negatively for majority cryptocurrencies on Tuesday. Bitcoin started the day with a loss of 1.48 percent in its trading values, which currently stands at $53,126 (roughly Rs. 39.7 lakh) on Indian exchange CoinSwitch Kuber. On international exchanges such as Binance and CoinMarketCap, Bitcoin value went down by 2.54 percent, taking its trading value to $49,662 (roughly Rs. 37 lakh). This loss in the value of the world's oldest cryptocurrency comes a day after it registered gains and elevated its value above the mark of $50,000(roughly Rs. 37.4 lakh) after days of sluggish movement.

The value of Ether also slipped by 2.44 percent on December 28. Presently, the altcoin is trading at $4,209 (roughly Rs. 3.15 lakh) per token, as per Gadgets 360's crypto price tracker. Despite the marginal dip, there have not been any major changes in Ether value, which has managed to hover around the $4,200 (roughly Rs. 3.14 lakh) mark in recent times.

Ripple, Polkadot, Dogecoin, Shiba Inu, and Polygon are among the majority of other cryptocurrencies to register dips. Among a handful gainers, Tether, Cardano, and USD Coin secured positions.

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“The lack of strong momentum in Bitcoin near the resistance level caused it to drop below $50,000 (roughly Rs. 37.4 lakh). The rest of the crypto market followed Bitcoin's cues and fell lower. Over the coming few days, the cryptocurrency market is likely to remain range-bound,” Edul Patel CEO and Co-Founder of crypto investment firm Mudrex told Gadgets 360.

The global crypto market capitalisation rose to $2.39 trillion (roughly Rs. 1,80,02,836 crore) from $2.35 trillion (roughly Rs. 1,77,02,311 crore) as per CoinMarketCap

The crypto trading volume also increased to $75.03 billion (roughly Rs. 5,63,587 crore) from $72.62 billion (roughly Rs. 5,45,485 crore) earlier this week.

Meanwhile, crypto-related crimes in India have risen in recent times and Hyderabad Police has issued a warning. This is while India still decides on its stance over legalising crypto assets in the country.

On the international level, dog coin Shiba Inu emerged as the most popular cryptocurrency in 2021 on exchange CoinMarketCap, defeating even Bitcoin and Ether.

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.

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Cryptocurrency Prices across Indian exchanges

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Further reading: Bitcoin, Ether, Cardano, Ripple, Shiba Inu, Tether, Dogecoin, Litecoin, Uniswap, Cryptocurrency, Crypto Price

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