Bitcoin Surpasses USD 43,000 Level, Ether Also in Profit

Bitcoin, the largest cryptocurrency in terms of market value, had a rise of 2.73 percent on Tuesday. Its price was around $43,495. It has increased by about $1,320 in the last one day. This is the first time in a week that the price of Bitcoin has exceeded $43,000. Bitcoin’s share in the crypto market is increasing and this may increase the challenge for other cryptocurrencies. The current share of Bitcoin is 51.2 percent.

Second largest cryptocurrency Ethereum The price has increased by 1.74 percent. It was at around $2,310. Avalanche, Solana, Ripple, Cardano, Polkadot, Chainlink and Polygon were also bullish. In the last one day, the market capitalization of crypto increased by about 2.30 percent to $ 1.67 trillion.

Shivam Thakral, CEO of crypto exchange BuyUcoin, told Gadgets360, “After the decline of the last few days, the crypto market has gained momentum. The reason for this could be the change in Google’s guidelines. In the US, companies like BlackRock, VanEck and Franklin Templeton “Permission has been granted to advertise Bitcoin ETF.” Regulators in some countries have also issued warnings regarding this segment. Recently, the Reserve Bank of India (RBI) had reiterated its warning of the danger to emerging markets regarding cryptocurrencies. RBI said that despite this segment getting approval in some countries, there has been no change in its position regarding it.

Securities regulator SEC in America bitcoin In response to a question related to approving Exchange Traded Fund (ETF), RBI Governor Shaktikanta Das had said, “No matter what anyone does on cryptocurrencies, the position of RBI and me has not changed. This is an important step for the economy of emerging markets. There is a big threat and it will be very difficult to control it going forward.” Das said that there is no value added with cryptocurrencies and it could threaten macroeconomic and financial stability. RBI had issued a circular regarding cryptocurrencies a few years ago, prohibiting the entities coming under its regulations from dealing in such instruments. However, after this the Supreme Court rejected this circular of RBI.