Bitcoin, Ether Values Open with Dips as Red Colour Dominates Crypto Price Charts

Only a few cryptocurrencies like Shiba Inu and Neo opened with gains.

By Radhika Parashar | Updated: 4 October 2021 11:38 IST

Bitcoin, Ether Values Open with Dips as Red Colour Dominates Crypto Price Charts

Bitcoin and Ether have registered over-all gains over the weekend

Highlights

Bitcoin opens with a minor dip, just like Ether
All major cryptocurrencies register falls
Only a handful crypto-coins witness rise in values

Bitcoin price rose in value over the weekend and kept trading for roughly $48,000 (roughly Rs. 35 lakhs). On Monday, October 4, Bitcoin opened with a slight dip of 1.96 percent. Despite the marginal drop, the world's most-valued cryptocurrency is trading at Rs. 36,53,453 (roughly $49,285) — representing an overall rise in its exchange value after Friday, October 1, when Bitcoin was trading at around Rs. 34,23,691 (roughly $46,082). Following China's recent crackdown on crypto-related activities, the value of Bitcoin, among other cryptocurrencies witnessed major fluctuations last week. The prices of cryptocurrencies surged over the weekend however, after the US Federal Reserve Chair Jerome Powell reaffirmed to the crypto sector that the central bank has no intentions on banning digital assets

Ether also witnessed a low opening on Monday. Registering a drop of 2.16 percent – the cryptocurrency based on Ethereum blockchain is currently trading at Rs. 2,59,219 (roughly $3,496), as per the Gadgets 360 cryptocurrency price tracker.

The world's second most-valued crypto had been registering dips in exchange values for most of last week as well. On Friday, October 1, the altcoin had opened with another low — when it was trading at around Rs. 2,36,255 (roughly $3,179). It is noteworthy however, that Ether did manage to recover in its overall value that rose by nearly $300 (roughly Rs. 22,238) over the weekend.

Samsung Wins Patent for a Tri-Fold Smartphone With Specialised Barrier Layer for Improved Durability

Cardano, Tether, Ripple and, Polkadot among other cryptocurrencies also opened with minor value drops.

Only a handful of cryptocurrencies opened this fresh week with tiny gains. These include EOS, Shiba Inu, Neo, and Bitcoin SV.

Between China criminalising crypto-activities and regions like El Salvador, Miami, US rooting for cryptocurrencies, especially Bitcoin – the crypto market has remained unstable in September.

More countries, however, are sparking discussions around the benefits of allowing the functioning of these unregulated and decentralised crypto-assets.

For instance, US Federal Reserve is known to be looking at creating a digital dollar, a report by FullyCrypto.com recently said.

Last week, while Tesla CEO Elon Musk said that these indestructible cryptocurrencies are here to say, venture capitalist Chamath Palihapitiya said that Bitcoin has essentially replaced gold in modern times.

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.

Affiliate links may be automatically generated - see our ethics statement for details.

Cryptocurrency Prices across Indian exchanges

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: Cryptocurrency News, Cryptocurrency Price in India, Bitcoin Prices, Bitcoin Price in India, Bitcoin, Cryptocurrency Price, Cryptocurrency Market, Cryptocurrency Exchange, Bitcoin Exchange, Bitcoin Market, Cryptocurrency List

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