On Friday, a day after a modest recovery, the price of bitcoin opened lower by 0.15 per cent. The world’s second most valuable cryptocurrency is currently trading at Rs. 34,23,691 (approximately $46,082). Bitcoin gained 2.38 percent on Thursday, September 30, a day after the development. The week has remained utterly volatile for the crypto market, including bitcoin, after China completely banned crypto-trading on 24 September last week. Price fluctuations have also been recorded among other cryptocurrencies throughout the week.
This morning the price of Ethereum also came down with a slight decline of one per cent. The Ethereum blockchain-based cryptocurrency is currently trading at Rs. 2,36,255 (about $3,179). Gadgets 360 opened with a gain of 3.8 percent a day earlier on September 30, according to the crypto price tracker.
Cardano, Ripple and Dogecoin are among the other cryptocurrencies to register minor declines.
So far, there are only a few popular cryptocurrencies that have opened with profits.
Litecoin, Bitcoin Cash and Cosmos price increased with a slight difference in prices.
Earlier this week, industry analysts said that following China’s crackdown on cryptocurrencies, market volatility was only natural. Although experts were hopeful that the cryptocurrency would recover quickly.
According to a research report by Fortune Business Insights, the global cryptocurrency market is projected to reach $1,758 million (approximately Rs 13,050 crore) by 2027.
Cryptocurrency is an unregulated digital currency, is not legal tender and is subject to market risks. The information in this article is not intended to be financial advice, trading advice or any other advice or a recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising out of any investment based on any alleged recommendation, forecast or any other information contained in the article.