Bitcoin, Ether, and Other Cryptocurrencies Record Cascading Values, and the Red Color Dominates Charts
Bitcoin’s value fell 3.43 percent on Tuesday, December 14, continuing its trend of greater losses and smaller gains. Kuber, the world’s oldest cryptocurrency, is currently trading at $50,553 on the Indian exchange CoinSwitch.
Bitcoin’s value is currently hovering around $47,235 on international exchanges such as CoinMarketCap. This is the fourth week in a row that Bitcoin has failed to reach its all-time high of $68,327.99.
While Bitcoin struggles to regain its value, Ether has been relatively quiet in terms of ups and downs in recent days.
According to the Gadgets 360 crypto price tracker, the world’s second-most valuable cryptocurrency is currently trading at $4,050 per token, a loss of 5.45 percent.
Cardano, Ripple, Polkadot, Dogecoin, and Shiba Inu were also among the cryptocurrencies whose prices bounced briefly but eventually settled with losses.
Only Tether, USD Coin, and SushiSwap, on the other hand, emerged as winners, with only minor changes in their values.
Industry experts predict that the crypto market volatility will remain active in the days ahead of Christmas.
“Bitcoin and Ether, the two largest cryptocurrencies by market cap, continued to hover around their inflection points.” Although Ether briefly fell below the critical support level of $4000, Bitcoin remained relatively range-bound. “With the ‘cryptocurrency fear and greed’ index indicating fear in the market, we can expect the next few days to be volatile,” Edul Patel, CEO and Co-Founder of crypto investment firm Mudrex, told Gadgets 360.
Meanwhile, crypto adoption is still being debated in a number of countries.
Recently, a Nigerian minister advised the country’s government to keep an open mind when it comes to cryptocurrency adoption.
Indian Prime Minister Narendra Modi recently stated that cryptocurrencies should be used to empower rather than undermine democracy. His remarks came at a time when Indian policymakers are concerned that unregulated digital currency transactions could jeopardize macroeconomic and financial stability.
