Bitcoin on Wednesday, November 15 reflected a loss of 2.95 percent on the crypto price chart. At the time of writing, Bitcoin was trading at $35,417 (roughly Rs. 29.4 lakh). This is the second day in a row that Bitcoin has recorded a loss in at least two weeks. It is also the first time in the two weeks that the most expensive crypto asset has traded at a price point lower than the mark of $30,000 (roughly Rs. 24.9 lakh).
Ether, in a rather conventional price movement, followed Bitcoin on the loss-making side of the crypto chart. Registering a loss of 3.97 percent, Ether is presently trading at the price point of $1,973 (roughly Rs. 1.63 lakh).
In the last 24 hours, Bitcoin has seen a notable price dip of $1,039 (roughly Rs. 86,260), alongside Ether, that also tumbled down the price ladder by $1,013 (roughly Rs. 84,098).
"The crypto market has shown a healthy correction in the last 24 hours. BTC dropped below the $36,000 (roughly Rs. 229.8 lakh) mark. The next line of support for BTC is at $33,500 (roughly Rs. 27.8 lakh); if BTC maintains that we are still in a good uptrend,” Shubham Hudda, Senior Manager, CoinSwitch Markets Desk told Gadgets 360.
Majority cryptocurrencies reeled under losses on Wednesday as the volatility element of the crypto sector gained heat in the last few hours.
Tether, Ripple, Solana, USD Coin, Dogecoin, Tron, Chainlink, and Polkadot — all recorded losses today.
Losses also struck Litecoin, Shiba Inu, Bitcoin Cash, Leo, Cosmos, Stellar, Uniswap, Monero, Cronos, and Binance USD.
The overall crypto market cap dropped by 2.11 percent in the last 24 hours bringing the sector valuation to $1.36 trillion (roughly Rs. 112,90,794 crore), showed CoinMarketCap.
Only a small number of cryptocurrencies recorded profits today. These include Binance Coin, Cardano, Polygon, Avalanche, and Ardor.
"In a positive development, despite China maintaining its prohibitive stance towards Bitcoin and cryptocurrencies, there is growing crypto adoption. A Chinese company, Boyaa, has announced a substantial investment of $100 million (roughly Rs. 830 crore) in Bitcoin and Ethereum.
Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
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