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Crypto market boomed with Bitcoin and Ether

In terms of market capitalization, the price of the largest cryptocurrency Bitcoin started trading with a gain of 1.42 percent on Tuesday. Its price had increased to around $ 17,150. It gained about 1.95 percent on international exchanges like Binance.

The price of the second largest cryptocurrency Ether has also increased. Gadgets 360 crypto price tracker According to , its price was at $1,266 with a gain of about 1.94 percent. “Bitcoin and Ether are likely to trade in a lower range due to volatility in the market in the coming days due to events such as the release of US inflation data and the FOMC press conference on December 14,” said the research team at CoinDCX. Other coins that gained in price included Tether, USD Coin, Cardano, Polygon, Litecoin, and Solana.

In the last one day, the capitalization of the crypto market has increased by about 0.85 percent to more than $ 848 billion. Some of the altcoins in decline were Cardano, Polkadot, Tron and Chainlink. Market experts say that there is a buying opportunity in bitcoin at this price level. Bitcoin The number of sharks that have made large investments has decreased by about 80 percent in one year. This indicates that the big investors of bitcoin are suffering huge losses due to the fall in the market. Also, many big whales accounts are also distancing themselves from bitcoin.

A recent study found that almost three quarters of people who buy bitcoin have suffered losses. This information comes from a study by economists at the Bank of International Settlements of data on cryptocurrency investors from about 95 countries over the past seven years. It has been told in this study that about three quarters of people investing in bitcoin are estimated to be at a loss. During this period, the price of bitcoin rose from around $250 to a high of around $69,000 in November last year. The number of people buying and selling cryptocurrencies through the app increased from 1.19 lakh to nearly 3.25 crore during this period. The researchers who conducted the study wrote, “Our analysis shows that the increase in the price of bitcoin is related to the increase in the number of its retail investors.”

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