second largest cryptocurrency The price of Ether was up 0.42 percent at $2,052. It has increased by about three dollars in the last one day. Apart from this, there was a decline in most of the cryptocurrencies. The prices of Binance Coin, Tether, USD Coin, Cardano, Polkadot, Chainlink, Solana and Litecoin have fallen. Before the release of some data related to the economy in America crypto There was volatility in the market.
CoinDCX’s research team told Gadgets360, “Consumer Price Index data in the US can have an impact on the price of Bitcoin. If this data is positive, it can lead to a rise in Bitcoin and if it is negative, there is a possibility of a decline in the crypto market. Is.” Regarding this, CoinSwitch’s Markets Desk said, “Bitcoin is in decline after four weeks of rise. This year, this has happened only once in January when Bitcoin had weekly green candles for four consecutive weeks. After this, it has seen a lot of There was a decline. After this the trend has been somewhat bullish. Due to the possibility of profit, traders are taking more long positions instead of short ones.”
Bitcoin touched a high of around $68,000 about two years ago. Since then there was a huge decline in its price. Investors had to suffer huge losses due to this. The market also declined due to the bankruptcy of some crypto firms. Recently, Prime Minister Narendra Modi had expressed the need to make 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. However, there was also a demand from RBI to ban cryptocurrencies. In some countries, regulators are making rules for this segment. This may reduce the cases of scams in this market and may also increase the confidence of investors.
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