Bitcoin, the largest cryptocurrency by market value, had a rise of 4.18 percent on Friday. After falling in the last few weeks, Bitcoin has crossed the level of $ 46,000. Its price was around $46,275. It has increased by approximately $1,770 in the last one day. Market analysts believe that this has increased due to strong investor sentiment.
Glassnode’s one Report It has been reported that between January 19 and February 6, the number of wallets holding more than 1,000 bitcoins increased by 3.6 percent. The second-largest cryptocurrency Ether was up 1.43 percent. Its price was around $2,449. Its price has increased by $24 in the last one day. Apart from this, the prices of Avalanche, Ripple, Binance Coin and Litecoin have increased. In the last one day, the market capitalization of crypto increased by 3.08 percent to about $ 1.76 trillion.
Edul Patel, CEO of crypto exchange Mudrex, told Gadgets360, “Bitcoin has been bullish before during the New Year in China. Its price rise has coincided with the S&P 500 reaching new highs. Bulls on positive sentiment Next We see it moving towards $50,000 as a resistance level. Raj Karkara, COO of ZebPay, said, “Bitcoin has increased due to the updates in the ETF market and it has crossed the level of $ 45,000. Fidelity Wise Origin Bitcoin has seen a net inflow of more than $ 130 million on Thursday. Ishares The total volume of Bitcoin Trust has been more than $470 million. The market trend has become positive due to increased inflows in the ETF market.
before the budget this year crypto The industry had requested the Central Government to reduce the tax on this segment. However, Finance Minister Nirmala Sitharaman did not make any mention of the crypto segment in the interim budget. Stakeholders associated with this industry are disappointed by this. The crypto industry hopes that some changes can be made for this segment in the budget presented by the new government after the Lok Sabha elections. About one and a half years ago, the government had imposed TDS of one percent on every crypto transaction. Along with this, 30 percent tax was imposed on profits from crypto. Stakeholders associated with the crypto segment say that this has led to a decrease in crypto trading activities.