Crypto market experts say that this rally of bitcoin has put an end to the fear of investors and now the cryptocurrency market is not under negative influence.
Bitcoin recently crossed the $45,000 mark (about Rs 34 lakh) in March. Today the trading of this coin started with a loss of 2.18 percent. According to the data of Indian exchange CoinSwitch Kuber, the price of bitcoin is currently trading at $47,718 (about Rs 36 lakh). There has also been a slight fall in its price on the global exchanges. On exchanges like Binance and Coinbase, it is trading at $47,306 (approximately Rs 35.80 lakh) after a fall of 0.11 percent.
Ether, the world’s second largest cryptocurrency, also saw a slight decline today. The price of Ether, both nationally and internationally , has declined marginally. Gadgets 360 Crypto Price TrackerAs per reports, Ether latest price is currently trading down 0.76 percent at $3,450 (approximately Rs 2.5 lakh). At the same time, on global exchanges like CoinMarketCap, its price is trading down by about 1 percent at $3,400 (about Rs 2 lakh). Talking about the entire cryptocurrency market recently, most of the cryptocurrencies today appeared in the green.
Binance Coin , Solana , Avalanche , Polkadot , and Polygon have seen a slight increase in prices. Tether , USD Coin , Ripple , Cardano and Terra have suffered losses today. Also meme cryptocurrencies Dogecoin and Shiba Inu has also taken a slight lead.
Crypto market experts say that this rally in bitcoin has put an end to the fear of investors. This has eliminated the ongoing negative impact for the crypto market. The research team at Indian exchange CoinDCX told Gadgets 360 that there is still a growing interest in cryptocurrencies for long-term investments. While the number of crypto funds was 4 five years ago, it has increased to 119 in January 2022.
Meanwhile, many more countries are also taking steps for crypto regulation. Vietnam’s Deputy Prime Minister Lee Minh Khai has instructed the country’s finance ministry to draft regulatory laws for the digital assets sector.
According to CoinMarketCap, the current market capitalization of the crypto sector is $2.14 trillion (approximately Rs 1,62,77,490 crore).