Crypto Market Crashed Again Big Fall In World’s Top Digital Currency Including Bitcoin Ethereum – Cryptocurrency Crash

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Last year in 2021, there were huge investments in cryptocurrencies, while experts have expressed hope to see a boom in the crypto market this year as well. But when we talk about the beginning of the year 2022, with the beginning of the year, most cryptocurrencies started a phase of decline, which is still ongoing. On Friday, this unregulated market crashed again, and the price of bitcoin fell by 6 percent.

Bitcoin price fell by Rs 2 lakh
The world’s favorite cryptocurrency, bitcoin, saw a sharp drop in price on Friday. Its price has fallen drastically by 5.89 percent. After this fall, the price of this digital currency fell by Rs 1,98,773 to Rs 31,75,096. At this price, the market value of bitcoin also fell to a low of Rs 54.7 trillion. Along with bitcoin, the price of Ethereum, the world’s second most popular digital currency, has also fallen drastically. Its price fell 6.88 percent or Rs 17,331 to Rs 2,34,512. Its market capitalization stood at Rs 25.3 trillion.

Other major digital currencies are falling
Friday turned out to be Black Friday for most other cryptocurrencies after Bitcoin and Ethereum, which are among the top 10 digital currencies in the world. Binance Coin fell 7.90 percent to Rs 35,112, Polkadot fell 7.12 percent to Rs 1,833, Dodgecoin fell 5.89 percent to Rs 12.47 and Shiba Inu fell 6.58 percent to Rs 2008. Apart from this, the price of Litecoin by as much as 8.27 percent and the price has fallen to Rs 10,189.

Bitcoin was at an all-time high last year
Tether Coin, which was among the top 10 cryptocurrencies in the flood of sharp declines on Friday, was the only digital currency to see an increase. The price of Tether rose by a marginal 0.91 percent or Rs 0.73. With this increase, the price rose to Rs 81.39. At this price, the market capitalization of Tether Coin rose to the level of Rs 5.8 trillion. It is significant that in the month of November 2021 there was a strong increase in bitcoin, ethereum and other cryptocurrencies. Bitcoin and Ethereum reached their all-time high this month, but since reaching this peak, they began a downward trend that has continued since the start of the new year.

The future of crypto is not golden in India
Even the country’s Prime Minister, Narendra Modi, Finance Minister Nirmala Sitharaman and the Governor of the Reserve Bank of India have expressed concern about this unregulated market. A crypto bill has also been drafted with the aim of protecting Indian investors and governing this crypto market. However, it could not be introduced in the parliament’s winter session. In Budget 2022, to be presented on February 1, there is the possibility of major announcements from the government about cryptocurrencies. According to experts, private cryptocurrencies may be banned in India. However, all this will be clear only after the introduction of a pure cryptocurrency bill.

Most crypto investors in India
According to a recent report, people’s craze for crypto is increasing in the world, including India. According to several reports released in this regard, India currently has the largest number of crypto investments in the world. The report said that the number of people investing in cryptocurrencies in the country has reached around 107 million and by 2030, Indians’ investment in cryptocurrencies is expected to reach $241 million.

Expansion

Last year in 2021, there were huge investments in cryptocurrencies, while experts have expressed hope to see a boom in the crypto market this year as well. However, when we talk about the beginning of the year 2022, with the beginning of the year, most cryptocurrencies started a phase of decline, which is still ongoing. On Friday, this unregulated market crashed again, and the price of bitcoin fell by 6 percent.

Bitcoin price fell by Rs 2 lakh

The world’s favorite cryptocurrency, bitcoin, saw a sharp drop in price on Friday. Its price has fallen drastically by 5.89 percent. After this fall, the price of this digital currency fell by Rs 1,98,773 to Rs 31,75,096. At this price, the market value of bitcoin also fell to a low of Rs 54.7 trillion. Along with bitcoin, the price of Ethereum, the world’s second most popular digital currency, has also fallen drastically. Its price fell 6.88 percent or Rs 17,331 to Rs 2,34,512. Its market capitalization stood at Rs 25.3 trillion.

Other major digital currencies are falling

Friday turned out to be Black Friday for most other cryptocurrencies after Bitcoin and Ethereum, which are among the top 10 digital currencies in the world. Binance Coin fell 7.90 percent to Rs 35,112, Polkadot fell 7.12 percent to Rs 1,833, Dodgecoin fell 5.89 percent to Rs 12.47 and Shiba Inu fell 6.58 percent to Rs 2008. Apart from this, the price of Litecoin by as much as 8.27 percent and the price has fallen to Rs 10,189.

Bitcoin was at an all-time high last year

Tether Coin, which was among the top 10 cryptocurrencies in the flood of sharp declines on Friday, was the only digital currency to see an increase. The price of Tether rose by a marginal 0.91 percent or Rs 0.73. With this increase, the price rose to Rs 81.39. At this price, the market capitalization of Tether Coin rose to the level of Rs 5.8 trillion. It is significant that in the month of November 2021 there was a strong increase in bitcoin, ethereum and other cryptocurrencies. Bitcoin and Ethereum reached their all-time high this month, but since reaching this peak, they began a downward trend that has continued since the start of the new year.

The future of crypto is not golden in India

Even the country’s Prime Minister, Narendra Modi, Finance Minister Nirmala Sitharaman and the Governor of the Reserve Bank of India have expressed concern about this unregulated market. A crypto bill has also been drafted with the aim of protecting Indian investors and governing this crypto market. However, it could not be introduced in the parliament’s winter session. In the 2022 budget, to be presented on February 1, there is the possibility of major announcements from the government about cryptocurrencies. According to experts, private cryptocurrencies may be banned in India. However, all this will be clear only after the introduction of a pure cryptocurrency bill.

Most crypto investors in India

According to a recent report, people’s craze for crypto is increasing in the world, including India. According to several reports released in this regard, India currently has the largest number of crypto investments in the world. The report said that the number of people investing in cryptocurrencies in the country has reached around 107 million and by 2030, Indians’ investment in cryptocurrencies is expected to reach $241 million.



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