Bitcoin''s price slowed on Wednesday as traders anticipated expected public pricing information to be released later on Thursday. The consumer price index (CPI) will be released on Thursday, based on a survey to measure price changes in a global marketplace. As things stand, Bitcoin is up by 0.09 percent in the last 24 hours with its price now approaching the $19,000 mark (roughly Rs. 15.65 lakh) mark across Indian exchanges, while BTC is valued at $20,109 (roughly Rs. 16.56 lakh), 0.18
Bitcoin is valued at $19,061 on global exchanges like CoinMarketCap, Coinbase, and Binance, according to CoinGecko statistics. BTC''s value is now 5.4 percent lower than it was last Thursday.
Ether, the largest smart contracts token, has also shown little movement over the previous few trading sessions, lowering its value ever to 0.1 percent, according to a research. On Indian exchanges, ETH is valued at $1,360 (roughly Rs. 1.12 lakh), where values are down by 0.58 percent from the previous day.
The cryptocurrency price tracking system for Gadgets 360 shows that most major altcoins lost some value alongside Ether, with the global cryptocurrency market capitalization numbers also decreasing by 0.7% through Wednesday and early Thursday.
Cardano, Avalanche, Cosmos, Solana, Polygon, TRON, Chainlink, Monero, Uniswap, and BNB all see themselves in the red, although not by much.
Memecoins Shiba Inu and Dogecoin haven''t been spared. Dogecoin is currently valued at $0.05 (roughly Rs. 4.84) after losing 2.47 percent in value in the last 24 hours, while Shiba Inu is valued at $0.00001 (roughly Rs. 0.000822), down 2.74 percent over 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. Considering the current accumulation trend, whales with wallet balances of 1000 to 10,000 BTC have recently begun to accumulate. On the other hand, retailers are distributing Bitcoins and are showing lower interest in the markets. This indicates that hype in the markets is moving slowly and accumulation for long term returns has begun," says CoinDCX''s Research
"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. Increase in hash rate is fueled by the migration of Ethereum from Proof of Stake (PoS) to Proof of Work (PoW), decrease in GPU miners, and growing crypto friendly jurisdictions from Kazakhstan, Canada, and Germany. With an increase in mining difficulties and upcoming September CPI In
Cryptocurrency is a non-regulated digital currency, rather than a legal tender, and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice, or any other advice or recommendation of any kind by NDTV. NDTV shall not be liable for any loss arising from any investment based on any perceived recommendation, forecast, or other information contained in the article.