Bitcoin Price Sees a Hike After Days of Slump; Ethereum, Cardano Values Also Up

Cryptocurrency prices saw an overall gain as the day opened.

By Radhika Parashar | Updated: 23 September 2021 12:10 IST

Bitcoin Price Sees a Hike After Days of Slump; Ethereum, Cardano Values Also Up

Bitcoin, Ethereum, Dogecoin and Cardano prices have gone up after a week-long low

Highlights

Bitcoin, Ethereum, Dogecoin all began the day with a spike
Tether and USD Coin have witnessed dips
Mudrex CEO predicted that the next 24 hours will be crucial

Bitcoin finally witnessed a hike in exchange values after almost a week of witnessing slumps. On Thursday, September 23, Bitcoin price rose by 4.41 percent and the cryptocurrency began trading in India at Rs. 34,88,719, or roughly $47,237.26. This is the first time since last week that Bitcoin prices saw a rise. Analysts had suspected that recent disruptions in China's real estate market owing to a $300 billion (roughly Rs. 22,15,657 crores) debt issue from a Chinese developer. Along with Bitcoin, the day has begun on a positive note for other cryptocurrencies including Ethereum and Cardano, among others.

Ethereum, world's second most valued cryptocurrency, witnessed a whopping 8.65 percent hike in exchange rates. It is currently trading at Rs. 2,47,030.28 (roughly $3,344.79). Other cryptocurrencies such as Cardano, Ripple, Polkadot as well as the meme-based Dogecoin witnessed spike in exchange rates.

Click here to check out the current prices for most leading cryptocurrencies.

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“The past 24 hours were relatively better for the cryptocurrency market compared to the performance through the rest of the week. With this minor recovery, the global crypto market cap managed to rise more than 3.2 percent. The coming 24 hours might be crucial for the crypto markets as there would be a constant tussle between the bulls and the bears,” Edul Patel, CEO and co-founder of crypto investment platform Mudrex told Gadgets 360.

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For now, cryptocurrencies Tether and USD Coin have witnessed marginal dips.

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.

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Cryptocurrency Prices across Indian exchanges

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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