The crypto price chart looks like bitcoin, ether, and below

The year 2022 seems to have started on a tough note for cryptocurrencies, with most coins registering losses since its launch. On Tuesday, January 4, bitcoin opened with a drop of 0.61 percent. On the Indian exchange Coinswitch Kuber, each bitcoin token is trading at $49,922 (approximately Rs 37 lakh). A few days ago around Christmas, the value of bitcoin touched the $52,000 mark on several exchanges, but soon after, the value fell again. On international exchanges such as Binance and CoinMarketCap, the world’s oldest cryptocurrency is trading at $46,299 (about Rs 34.5 lakh).

Ether has followed bitcoin to register another price drop today. According to Gadgets 360’s crypto price tracker, the world’s second largest crypto by market valuation is currently trading at $4,037 (approximately Rs 3 lakh) after a loss of 0.83 percent.

Tether, Cardano, Ripple, Dogecoin and Shiba Inu are among other altcoins that have registered losses.

Only a handful of cryptocurrencies managed to register the pumps, these include USD Coin, Polkadot, and Chainlink.

Given the current range-bound momentum of the majority of coins, industry experts anticipate something good to happen in the crypto space.

“The cryptocurrency market has been in a range-bound consolidation for some time now. Technical indicators suggest that the market may be ready for a good move in the coming days,” Edul Patel, CEO and co-founder of investment firm Mudrex, told Gadgets 360. Told.

Meanwhile, the crypto space is facing opposing voices, questioning its future in the times to come.

Ray Dalio, the billionaire founder of the world’s largest hedge fund Bridgewater Associates, recently warned crypto investors around the world that a bitcoin boycott on a global scale is a possibility.

The crypto situation in India has also become more sensitive.

Following the massive tax evasion of GST by cryptocurrency service provider WazirX, the Directorate General of GST Intelligence has come down heavily on cryptocurrency exchanges operating in the country.


Interested in cryptocurrency? We discuss all things Orbital with WazirX CEO Nischal Shetty and WeekendInvesting Founder Alok Jain on the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

Cryptocurrency is an unregulated digital currency, is not legal tender and is subject to market risks. The information in this article is not intended to be financial advice, trading advice or any other advice or a recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising out of any investment based on any alleged recommendation, forecast or any other information contained in the article.

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