Bitcoin Trades Low Despite Improvement in Overall Crypto Market, India

Christmas Spirit Fails to Add Merry to Crypto Charts, Prices Stay Low


Entering into the third week of December, the crypto price charts failed to register ay major recovery in terms of price. Bitcoin stepped into Monday, December 20 trading at $49,291 (roughly Rs. 37.5 lakh), showing a loss of 2.05 percent on Indian exchange CoinSwitch Kuber. At this time, the price of Bitcoin is even lower than what it was for most of last week, breaching the mark of $50,000 (roughly Rs. 38 lakh). On International exchanges like Binance and CoinMarketCap, Bitcoin prices are currently hovering around $46,775 (roughly Rs. 35.5 lakh).

With a loss of 1.83 percent, Ether stepped into Monday, trading at $4,128 (roughly Rs. 3 lakh). As per the Gadgets 360 crypto price tracker, Ether’s previous closing value was $4,203 (roughly Rs. 3.2 lakh).

Joining the top two cryptocurrencies on loss wagon, Cardano, Polkadot, Dogecoin, Shiba Inu, and Polygon also registered marginal price dips.

On the other hand, Tether, USD Coin, Ripple, and Litecoin emerged as part of the small bunch of cryptocurrencies that pumped in values.

Presently, it remains unclear if the crypto market will bear any gifts for investors around the upcoming Christmas and New Year festivities

Last week, industry experts had predicted that the cryptocurrency market is currently plagued by fear and greed and could remain volatile in the coming days.

It is noteworthy that the crypto market is failing to steam up despite several fintech firms enabling crypto gifting options this holiday season.

Jack Dorsey’s online payments firms Cash App and Block have integrated crypto support to the apps using which, people can gift Bitcoin tokens for as less $1 (roughly Rs. 77) to their friends and family.

In fact, stock and crypto trading platform Robinhood is also expanding its services by adding the crypto gifting feature to its popular app. Still in its Beta version, the feature is presently being tested, Bloomberg had recently reported.

Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

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.