Bitcoin and Ether are surging to new highs before a correction, while Shiba Inu and Dogecoin continue to fall.

On Tuesday, Bitcoin reached a new all-time high of $68,525 (approximately Rs. 50.7 lakh) before speculators opted to take their profits home, causing the price to fall throughout the day. Bitcoin was trading around $71,447 (approximately Rs. 52.9 lakh) on the Indian market CoinSwitch Kuber on Wednesday morning, while BTC was trading at around $66,606 on global platforms like Coindesk and Binance (roughly Rs. 49.3 lakh). Although the most popular cryptocurrency has lost 2.4 percent in the last 24 hours, its bull run may not be finished.

In the second half of October, Bitcoin reached an all-time high of $67,000 (approximately Rs. 49.7 lakh).

On Tuesday, Ether reached a new all-time high of $4,840 (approximately Rs. 3.6 lakh), similar to Bitcoin’s ascent, albeit prices did fall throughout the day. Ether was trading at $5,065 (approximately Rs. 3.8 lakh) on Gadgets 360’s cryptocurrency price tracker, down 1.68 percent from its 24-hour low. The Ethereum-based coin’s peak on Tuesday is also the first time it has surpassed the $4,800 (approximately Rs. 3.55 lakh) mark.


The viral coin war, which had appeared to be heating up in recent weeks, appears to have slowed down this week.

In what hasn’t been the best of weeks for either dog coin, Dogecoin and Shiba Inu both took a dive. DOGE is currently trading at $0.29 (approximately Rs. 21.72), down 4.53 percent from its 24-hour low, while SHIB is down 5.08 percent.
At the time of publication, the market tracker had its fair share of reds and greens, with Cardano, Ripple, and Litecoin prices climbing and Ripple and Polkadot prices falling.

Although investor interest is propelling cryptocurrency as a whole after a lacklustre summer, professional products tied to Bitcoin are driving broader institutional interest. Meanwhile, Ether’s ascent is fueled by the rise of decentralized finance (DeFi) and non-fungible tokens (NFTs).

The surge in popularity of Bitcoin is raising concerns among nation-states considering whether or not to recognize it as legal cash. While El Salvador is already reaping the benefits of its Bitcoin income, Zimbabwe’s government looks to be contemplating Bitcoin as a legal payment option alongside its national currency, the Zimbabwean Dollar.

The head of the African country’s e-Government technology, Charles Wekwete, has stated that talks with private sector companies are ongoing to legalize Bitcoin payments.

In other news, Incoming York’s new mayor-elect Eric Adams believes it’s past time for schools to start teaching cryptography as a topic. Adams, a long-time crypto supporter, and believer in the technology’s potential, recently made news by announcing that he will collect his first three paychecks in Bitcoin.

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