Crypto Price Chart Looks Down as Bitcoin, Ether, and Majority Altcoins Register Losses

Around Christmas, Bitcoin value touched the mark of $52,000 (roughly Rs. 38.7 lakh), but less than a week into 2022, Bitcoin values have fallen again.

By Radhika Parashar | Updated: 4 January 2022 11:10 IST

Crypto Price Chart Looks Down as Bitcoin, Ether, and Majority Altcoins Register Losses

Photo Credit: Unsplash/ Executium

Industry experts have predicted something good will happen in the crypto space soon

Highlights

Tether and Cardano among cryptocurrencies to register losses
Bitcoin is trading at $49,922 (roughly Rs. 37 lakh)
Industry experts hopeful for coming days

The year of 2022 seems to have begun on a tough note for cryptocurrencies, with majority of the coins registering losses since its beginning. On Tuesday, January 4, Bitcoin opened with a loss of 0.61 percent. On Indian exchange CoinSwitch Kuber, each Bitcoin token is trading at $49,922 (roughly Rs. 37 lakh). Around Christmas some days ago, Bitcoin value touched the mark of $52,000 (roughly Rs. 38.7 lakh) on several exchanges but, soon after, the value dipped again. On international exchanges like Binance and CoinMarketCap, the world's oldest cryptocurrency is trading at $46,299 (roughly Rs. 34.5 lakh).

Ether has followed Bitcoin into registering another price dip today. The world's second largest crypto by market valuation is presently trading at $4,037 (roughly Rs. 3 lakh) after witnessing a loss of 0.83 percent, as per Gadgets 360's crypto price tracker.

Tether, Cardano, Ripple, Dogecoin, and Shiba Inu are among the other altcoins that registered losses.

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Only a handful of cryptocurrencies managed to register pumps, these include USD Coin, Polkadot, and Chainlink.

Industry experts have forecast something good to happen in the crypto space, given the current range bound movement of majority coins.

“The cryptocurrency market has been in a range-bound consolidation for quite some time now. The technical indicators suggest that the market might be gearing up for a good move over the coming few days,” Edul Patel, CEO and Co-founder of investment firm Mudrex told Gadgets 360.

Meanwhile, the crypto space is facing opposing voices, questioning its future in the coming times.

Ray Dalio, the billionaire founder of world's largest hedge fund, Bridgewater Associates, has recently warned crypto investors around the world that the boycott of Bitcoin on a global level is a possibility.

The crypto situation in India has also become more sensitive.

After the massive tax evasion of GST by cryptocurrency service provider WazirX, the Directorate General of GST Intelligence has come down heavily on cryptocurrency exchanges operating in the country.

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: Cryptocurrency, Bitcoin, Ether, Tether, Cardano, Ripple, Dogecoin, Shiba Inu, USD Coin, Polkadot, Chainlink

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