The unregulated digital currency cryptocurrency is not legal tender and is subject to market volatility. A single tweet can cause the market to suddenly jump or fall. Based on Elon Musk tweet, Bitcoin price soared above $40000
The overall crypto market plunged after the US Federal Reserve announced that it may delay its interest rate rise timeline to impose it in March.
Bitcoin and Ether have shown little to no price rebound since then, having fallen by 9% and 8.3% respectively. Ether has, like Bitcoin’s, shown no signs that it will recover from its fall in value.
Gadgets 360’s cryptocurrency price tracker shows that each Ether token currently sells for $3,388 (approximately Rs. After a 2.39 percent drop, 2.5 lakh. Dogecoin and Shiba Inu lost on Tuesday, as did Ether and Bitcoin. Some cryptocurrencies such as Polygon, Iota, and others have seen minor gains.
The value of Bitcoin continued its downward trend on Tuesday, January 11. CoinSwitch Kuber in India is selling the oldest cryptocurrency on the planet at $45,884 (approximately Rs. 33.9 lakh). Bitcoin’s value has fallen to $42,000 on international markets such as Binance and CoinMarketCap (roughly Rs. 31.2 lakh).
It is now the seventh consecutive day that Bitcoin traded below $45,000 (roughly Rs. Globally, 33.2 lakh. A lack of electricity in several countries forces the closure of crypto mining at a time when it is already struggling.