Bitcoin has been in the downfall from last couple of months, and is down from its ATH of 69200 USD to 45321 USD and is still in the red zone.
Even though it started quite well this morning touching 47000USD, it dropped drastically and is now trading at 45321USD.
Indian investors have been in a state on terror since rumours of government banning all private virtual coins. It can be said that Bitcoin is being squeezed into the apex where it is having a difficulty breaking out of the pattern.
Here are the top 5 cryptocurrencies and there price comparison with Bitcoin: –
Bitcoin – 34,88,886.92 INR.
Ethereum -2,72,228 INR
Binance coin – 33,469.48 INR
Dogecoin – 11.01 INR
Solana – 13,539.43 INR
TRON – 5.28 INR
Ripple – 65.33 INR
Terra – 8,734.86 INR
Zcash – 12700.64 INR
The global Cryptocurrency market size was valued at $1.49 billion in 2020, and is projected to reach $4.94 billion by 2030, growing at a CAGR of 12.8% from 2021 to 2030.
However, the entire crypto market is at a decline today and apparently it is all because Bitcoin is weak at this very moment probably due to a decline in the purchase demand, especially after Russian crypto ban prices has been pushed down.
Although the economic climate is at an all-time high alert and cryptocurrencies can be extremely volatile, if you are thinking of buying, buy it at this dip because at the end of the day the prices are going to rise and eventually after few fall you will be able to see yourself in the green.