Bitcoin, Ether rise again after days of slump, most other crypto currencies follow

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After falling in value for days, Bitcoin saw a slight spike on Wednesday January 5th. The oldest cryptocurrency in the world gained 0.10 percent and brought its trading value on the Indian exchange CoinSwitch Kuber to USD 49,875 (approximately 37.1 lakh). In the last week of December 2021, Bitcoin values ​​last hit the USD 52,000 mark (about 38.7 lakh). Currently, Bitcoin has grown up to 0.53 percent on international exchanges such as CoinMarketCap and Binance, bringing its trading value to around $ 46,433 (approx. 34.6 lakh Rs.).

Ether gained 1.45 percent on Wednesday. According to Gadgets 360’s crypto price tracker, each Ether token is currently trading at $ 4,092 (roughly 3 lakh). The ether values ​​also last broke the USD 4,200 mark (around 31.2 lakh) around Christmas 2021.

As the two largest cryptocurrencies posted gains, other altcoins also benefited from the market move.

Cardano, Polygon, Uniswap, Chainlink and Litecoin have emerged as winners today.

On the other hand, USD Coin, Ripple, Polkadot, Dogecoin, and Shiba Inu failed to make profits.

The crypto market has managed to maintain its consistency without seeing any major spikes or dips in the past few months. This is rated positively by industry experts.

“Even if the crypto market is trending in the direction of a downtrend, Bitcoin has been heralded as a winner in the pandemic era, with its price performance increasing by over 80 percent in 2021. The relatively constant performance of the top Ether and Binance Coin cryptocurrencies over the past month is growing evidence of the maturation of the overall market, ”the CoinDCX research team told Gadgets 360.

Industry experts predict that Bitcoin could actually reach $ 100,000 (about 74 lakh) in value by mid-2022.

A similar estimate of Bitcoin growth was recently made by Nayib Bukele, the 40-year-old president of the Central American country of El Salvador. Bukele made Bitcoin a legal currency in his country in September 2021.

Interested in cryptocurrency? We discuss everything about 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 anywhere you get your podcasts.

Cryptocurrency is an unregulated digital currency, not legal tender and is subject to market risks. The information provided in this article is not intended as financial advice, trading advice, or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any losses that may arise from an investment based on perceived recommendations, forecasts or other information contained in the article.

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