Crypto Price Chart Lights Up Amid Festivities as Bitcoin, Majority Altcoins Beef Up in Values

Industry experts have alerted retail traders to be careful while getting involved in aggressive trades.

By Radhika Parashar | Updated: 24 December 2021 11:18 IST

Crypto Price Chart Lights Up Amid Festivities as Bitcoin, Majority Altcoins Beef Up in Values

Photo Credit: Unsplash/ Executium

This is the first time in days that Bitcoin surged beyond the mark of $51,000 (roughly Rs. 38 lakh)

Highlights

Polkadot, Dogecoin, and Shiba Inu also register gains
USD Coin and Polygon failed to pump up
Industry experts acknowledge overall crypto market recovery

A day before Christmas, the crypto market stepped into December 24 bearing early gifts for the investors. After days of sluggish performance, Bitcoin started the day by adding 4.55 percent to its value, and taking it up to $53,305 (roughly Rs. 40 lakh) on Indian exchange CoinSwitch Kuber. This is the first time in days that Bitcoin managed to surge beyond the mark of $51,000 (roughly Rs. 38 lakh). On international exchanges such as CoinMarketCap and Binance, Bitcoin is trading at around $50,973 (roughly Rs. 38 lakh).

Ether also found itself chiming right into the merry season along with Bitcoin, gaining 2.37 percent. Presently, Ether is trading at $4,285 (roughly Rs. 3.2 lakh) per token according to Gadgets 360's crypto price tracker.

Cardano, Polkadot, Dogecoin, and Shiba Inu, among majority altcoins, brightened up the crypto charts.

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Among a handful of cryptocurrencies that presently seem to be missing out on the festive spirit, Tether, Ripple, USD Coin, and Polygon registered minor dips.

“With the weekend approaching, retail traders should tread with caution while taking aggressive trades. The low volumes aid whales could easily manipulate the market,” Edul Patel, CEO and Co-Founder of crypto investment firm Mudrex told Gadgets 360.

Meanwhile, the overall flaky sentiment towards the crypto sector seems to have taken a breather amid the holidays.

Crypto exchanges are busy adding more altcoins in their portfolios for traders to trade in.

Internationally, several crypto firms have added Bitcoin gifting features to get more people to invest in the cryptocurrency and rope in their friends and families into the space as well.

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, Tether, Dogecoin, Shiba Inu, Polygon, Ripple, Litecoin, Cryptocurrency, Cryptocurrency 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