Bitcoin Fails to Increase $20,000 Mark, And Many Altcoins See Dips Ahead of the Weekend

Bitcoin Fails to Increase $20,000 Mark, And Many Altcoins See Dips Ahead of the Weekend ...

As October approaches its second weekend, the crypto market notices signs of volatility that remained constant throughout the week. Bitcoin opened with a minor gain of 1.88 percent on Friday, October 14, despite the price tag of $19,437 (roughly Rs. 15.90 lakh) while failing to reach $20,000 mark. On Binance and Coinbase, BTC received similar miniscule gains to maintain its value around $19,818 (roughly Rs. 16.30 lakh).

Ether, facing daily market fluctuations, opened with losses on Friday. According to Gadgets 360''s crypto price tracker, ETH is trading at $1,294 (roughly Rs. 1.06 lakh) with a value decrease of 0.015 percent.

Other altcoins were automatically divided into two groups, the ones that follow BTC''s trajectory and the ones that fell down the ladder with ETH.

Polygon, Shiba Inu, Uniswap, wrapped Bitcoin, Cosmos, Stellar, and Monero were all lined up with profits behind BTC.

Tether, Binance USD, Ripple, Cardano, Solana, and Polkadot all fell.

The total market cap fell below $1 trillion (roughly Rs. 82,34,055 crore) BTC is more resilient than ETH and other altcoins. BTC is down 2 percent and trading just under $20,000 (roughly Rs. 16 lakh) during the week, according to a study team at Indian exchange CoinSwitch Kuber.

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The global cryptocurrency market has risen by 3.8 percent over the last 24 hours, accounting for $942 billion (roughly Rs. 77,56,462 crore).

Inflation for the United States in September slowed by 8.2 percent, the highest level since street estimates, but was lower than 8.3 percent in August. The Core Consumer Price Index (CPI) Inflation that excludes food and energy prices reached a 40-year high at 6.6 percent.

Wall Street fell amidst worries of a new Fed rate hike, but soon recovered the losses, despite the hopes of falling out. Crypto assets continue to sparked interest among investors daily.

CRE8, an Indian Rupee denominated virtual digital asset (crypto) index, decreased by 1.9 percent in the past seven days. BTC, ETH, BNB, Ripple (XRP), and ADA emerged as the top eight most traded coins among investors trading cryptocurrency assets in Indian Rupees. The Index value was at Rs. 2627.48 at 8 AM, October 14, 2022, according to the CoinSwitch team.

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