Bitcoin Gets Massive Surge, Price Rises USD 971 in Single Day

Bitcoin, the largest cryptocurrency by market capitalization, increased by 3.42 percent on Tuesday. This is the highest one-day rise in its price in the last two weeks. The price of Bitcoin increased to $28,175. Its value has increased by $971 in the last one day.

Big reason for the rise in Bitcoin crypto CoinTelegraph, which published the report, falsely claimed that the Bitcoin Spot ETF has been approved. However, asset management firm BlackRock termed this report as false. After this CoinTelegraph had to issue a clarification regarding this. The price of Ether, the second largest cryptocurrency, increased by 1.56 percent to $ 1,588. Its price has increased by $26 in the last one day. Apart from this, there was also a rise in the prices of Binance Coin, Ripple, Solana, Cardano, Polygon, Tron, Litecoin, Bitcoin Cash and Monero. In the last one day, the valuation of the crypto market increased by 0.85 percent to $ 1.09 trillion.

CoinDCX’s research team told Gadgets360, “After a false post by CoinTelegraph on Bitcoin, its price surged towards $30,000 on Had to apologize for giving it. This brought the price of Bitcoin back to just over $28,000.”

Bitcoin touched a high of around $68,000 last year. since then its price There has been a huge decline. Investors had to suffer huge losses due to this. The crypto market also declined due to the bankruptcy of some crypto firms. Investors had also distanced themselves from this market due to the increase in crypto-related scams. Recently, Prime Minister Narendra Modi had emphasized on making rules for the crypto segment. He said that there is a need to maintain pace with the development of technology. Earlier, the Finance Ministry and the Reserve Bank of India (RBI) had also favored making rules for crypto. Regulators in many countries are making rules for this segment. This may increase the number of investors in this market.