New Delhi: Sometimes there are huge ups and downs in cryptocurrencies. Now the popular cryptocurrency Bitcoin has registered a decline of almost 20 percent in less than two weeks. It declined by about 11 percent compared to last week and is currently trading at $56,868. However, this volatility is very regular. In fact, even within the last 24 hours, bitcoin fell by about 3% and has been declining for the past six days in a row. After reaching an all-time high of $68,789.63 on November 10, it started a decline.
According to a Reuters report, the decline in bitcoin has been seen due to profit-booking from upper levels. Traders began to worry that creditors of the crypto exchange Mount Gox could liquidate their payments.
Know other crypto prices
The price of Ether and other coins associated with the other ethereum blockchain increased by 7% to $4314. Ether price has reached an all-time high. Its value has increased after the scope of its blockchain has increased. Meanwhile, Dogecoin prices have risen 7% to $0.23. The Shiba Inu has also increased by 15% to $0.000049. Similarly, the prices of other cryptocurrencies Litecoin, XRP, Polkadot, Stellar, Cardano, Solana have also increased.
India is considering crypto law
On the other hand, India is now considering a crypto law, which can be introduced during the winter session of Parliament. At the same time, many important Indian exchanges in this sector have decided to stop their public-outreach operations. There is speculation that crypto will be regulated as an asset class and it is unlikely that it will be allowed to be used for transactions.
China is strict
In addition, China is tightening crypto mining to reduce the country’s carbon footprint and make it energy-efficient, and the IRS is considering seizing billions of dollars in cryptocurrencies linked to tax fraud and other crimes.
