Bitcoin on Friday, March 29 saw a loss of 0.18 percent. The value of Bitcoin, at the time of writing stood at $67,034 (roughly Rs. 55.8 lakh). In the last 24 hours, the value of Bitcoin tumbled by $111 (roughly Rs. 9,250). Market experts believe that in the coming days, the most expensive asset could see its price consolidating at the mark of $70,400 (roughly Rs. 58.6 lakh). A bunch of cryptocurrencies followed Bitcoin on the loss-trail.
Tether, Binance Coin, USD Coin, Cardano, Bitcoin Cash, and Polygon followed Bitcoin on the loss-making side of the crypto chart on Friday.
“Both Bitcoin and Ethereum are expected to see some volatility with $15 billion (roughly Rs. 1,25,022 crore) worth of options set to expire. Overall, the market remains extremely greedy,” Edul Patel, CEO of Mudrex told Gadgets360.
Ether managed to see a miniscule gain of 0.86 percent as of Friday. The price of Ether currently stands at $3,390 (roughly Rs. 2.82 lakh).
Solana, Ripple, Dogecoin, Avalanche, Shiba Inu, and Polkadot managed to register minor gains.
The list was further joined by Tron, Near Protocol, Litecoin, Cronos, and Stellar.
“On the market front, most of the top 10 crypto assets by market cap managed to trade in the green in the last 24 hours, with DOGE (+9.4 percent) leading the gains. Technical analysis shows that DOGE’s performance could be attributed to a prolonged reversal,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360.
The crypto market is currently witnessing the legal run-ins of several players across different geographical locations. Binance, Coinbase, and KuCoin are already under probe in Nigeria, Philippines, and the US over different issues.
In addition, Sam Bankman-Fried, the CEO of now defunct FTX exchange has been sentenced to 25 years in prison for multi-billion-dollar FTX fraud.
The overall crypto market cap rose by 0.58 percent in the last 24 hours. The valuation of the sector currently stands at $2.65 trillion (roughly Rs. 2,20,87,246 crore), as per CoinMarketCap.
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.
