The current trade war between the US and China has caused a notable pause in the cryptocurrency market’s surge. According to CoinMarketCap data, Bitcoin was trading at $97,486 (about Rs. 85.2 lakh) on global platforms on Friday, after falling less than 1% on foreign markets. Bitcoin’s price fell by almost 1% on Indian platforms, and it was now trading at $101,252 (about Rs. 88.5 lakh). Bitcoin’s price hasn’t changed much in the last 48 hours; on Wednesday, it was trading at $98,110, or around Rs. 85.4 lakh.
As it looks for its next move, which will decide whether it enters a protracted bull or bear market in the days ahead, Bitcoin has been consolidating. The CoinSwitch markets desk informed Gadgets 360 that US President Donald Trump Jr. said at a meeting yesterday that cryptocurrency represents the future of American domination.
Ether’s value decreased by 3.55% on global markets, reaching $2,720 (about Rs. 2.37 lakh). The asset’s price fell by almost 4% on Indian marketplaces, trading at $2,869 (about Rs. 2.51 lakh).
Market analysts have strongly recommended traders to exercise caution while making any investment decisions, predicting that the current volatility will continue for a few more days.
According to CoinMarketCap, the total value of the cryptocurrency market fell by 0.90 percent during the past day, reaching $3.18 trillion, or approximately Rs. 2,78,14,854 crore.
CREDIT: Gadget360, Allneeds
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