Following a tumultuous week, Bitcoin’s value dropped by 2.16 percent on Monday, November 1. On Indian markets, the world’s most valuable cryptocurrency is presently trading for $64,400 (approximately Rs. 48.2 lakh). Despite the little decline, Bitcoin investors must be relieved that the cryptocurrency has managed to keep its value over $60,000 (approximately Rs. 45 lakh) after a tumultuous week. Last week, Bitcoin had a series of price drops, which impacted the value of altcoins as well.
Ether, the world’s second most valuable cryptocurrency, has likewise started the month with a 3.51 percent price drop.
According to the Gadgets 360 cryptocurrency price tracker, Ether is currently selling at $4,499 (approximately 3.3 lakh) per token. Despite the recent drop, Ether has managed to maintain within its all-time high price range of $4,400 (approximately Rs. 3.3 lakh) to $4,606 (about Rs. 3.4 lakh) reached last week.
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Cardano, Ripple, Uniswap, Litecoin, and Polygon have joined the lengthy list of cryptocurrencies that have started the week with one to three percent losses.
Doge-based meme currencies, such as Shiba Inu and Dogecoin, on the other hand, continued to rise. The recent week has been quite favorable for these competing cryptocurrencies. Last week, the Shiba Inu increased by 46 percent, while the Dogecoin reached a daily high of 29.13 percent.
Cab Major ’99’ in Brazil will allow users to purchase bitcoins with its digital wallet.
As the festival season kicks out across the world, the remainder of the week is expected to be fascinating for both crypto-coins and investors.
Meanwhile, in various regions of the world, people are becoming more receptive to the crypto-space.
Last week, the Australian Securities and Investments Commission (ASIC) added a new crypto-asset area to its license applications. The government has begun to explore best practices for monitoring and keeping crypto-assets while prepared to cope with hazards because it does not yet have a stable legal framework in place.
Several businesspeople and financial investors have recently endorsed the cryptocurrency field, forecasting a bright future for these digital currencies.
Cryptocurrency has “an awful lot of promise,” according to Apple co-founder Steve Wozniak.