Bitcoin''s price remained unchanged on Wednesday as traders anticipated expanded inflation data to be released later on Thursday. The Consumer Price Index (CPI) is used to measure price fluctuations in a range of common consumer goods and services. As things stand, Bitcoin has increased by 0.09 percent in the last 24 hours, with its price now approaching the $19,000 mark across global markets, which has risen by 0.18 percent compared to the previous day.
Bitcoin is valued at $19,061 (roughly Rs. 15.69 lakh) on global markets, according to CoinGecko statistics. BTC''s value is now 5.4 percent lower than what it was last Thursday.
Ether, the largest smart contracts token, has also shown very little movement in the last few trading sessions, lowering its value ever to a modest level. ETH is currently valued at $1,360 (roughly Rs. 1.12 lakh) on Indian exchanges, where its value has decreased by 0.58 percent over the past day.
The cryptocurrency price tracker for Gadgets 360 has revealed that most major altcoins lost some value alongside Ether, with the global cryptocurrency market capitalisation numbers also falling 0.7 percent between Wednesday and early Thursday.
Cardano, Avalanche, Cosmos, Solana, Polygon, TRON, Chainlink, Monero, Uniswap, and BNB all see themselves in the red, although they are not quite.
Shiba Inu and Dogecoin haven''t been spared. Dogecoin is currently valued at $0.05 (roughly Rs. 4.84) after losing 2.247 percent in value in the last 24 hours, while Shiba Inu is valued at $0.00001 (roughly Rs. 0.000822), down 2.74 percent from the previous day.
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"Bitcoin continues to trade between $19,000 and $19,300 (roughly Rs. 15.65 lakh - Rs. 15.9 lakh) with its dominance at 37.9 percent. On the other hand, banks are distributing Bitcoins, but their interest in the markets is weakening. This indicates that hype in the markets is settling, and that long-term returns have begun," said CoinDCX''s Research team.
"Meanwhile, the BTC Hash Rate has reached an all-time high of 277.92 million TH/s, up 12.83 percent from yesterday and 92.49 percent from one year ago. This increase in hash rate is mainly fueled by the migration of Ethereum from Proof of Stake (PoS) to Proof of Work (PoW), lower prices of GPU miners, and increasing crypto friendly jurisdictions from Kazakhstan, Canada, and Germany. With a rise in mining difficulties and the
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