As we enter the third week of December, the crypto price charts have yet to show any significant price rebound. Bitcoin entered Monday, December 20 trading at $49,291 (about Rs. 37.5 lakh), a 2.05 percent loss on Indian exchange CoinSwitch Kuber. At the moment, the price of Bitcoin is even lower than it was for the most of previous week, having breached the $50,000 threshold (roughly Rs. 38 lakh). Bitcoin prices are now hovering around $46,775 on international platforms such as Binance and CoinMarketCap (roughly Rs. 35.5 lakh).
Ether entered Monday with a 1.83 percent drop, trading at $4,128. (roughly Rs. 3 lakh). The last closing value of Ether, according to the Gadgets 360 crypto price tracker, was $4,203. (roughly Rs. 3.2 lakh).
Cardano, Polkadot, Dogecoin, Shiba Inu, and Polygon, in addition to the top two cryptocurrencies, had minor price drops.
Tether, USD Coin, Ripple, and Litecoin, on the other hand, emerged as part of the tiny group of cryptocurrencies that surged in value.
At the moment, it is uncertain whether the crypto market will provide any gifts for investors over the forthcoming Christmas and New Year celebrations.
Industry analysts warned last week that the bitcoin market is now afflicted by fear and greed and would stay turbulent in the coming days.
It is worth noting that the crypto market has yet to heat up, despite the fact that some finance businesses have enabled bitcoin gifting alternatives this Christmas season.
Cash App and Block, two of Jack Dorsey’s online payment companies, have added crypto compatibility to their applications, allowing users to send Bitcoin tokens to friends and family for as little as $1 (approximately Rs. 77).
In reality, stock and cryptocurrency trading company Robinhood is expanding its offerings by incorporating a crypto gifting option into its popular app. Bloomberg recently reported that the functionality, which is still in Beta, is now being tested.