BTC’s dominance is currently at 41.82 percent and the oldest cryptocurrency is inching close to the price mark of $46,000 (roughly Rs. 35 lakh).
The global crypto trading volume rose by seven percent in the last 24 hours, and its direct effect reflected on the price charts on Friday, March 25. Bitcoin, with a gain of 2.92 percent, opened trading at $44,643 (roughly Rs. 34 lakh) on Indian exchange CoinSwitch Kuber. On international exchanges, BTC roped in similar gains and improved its global trading value. With profits of over 2.5 percent, the world’s oldest cryptocurrency is trading at $43,971 (roughly Rs. 33.5 lakh).
bagged bigger gains than Bitcoin. As per Gadgets 360’s Ether gained 3.88 percent and opened trading at $3,187 (roughly Rs. 2.5 lakh) in India. On Binance and CoinMarketCap, ETH rose by 3.55 percent taking its trade values to around $3,138 (roughly Rs. 2.3 lakh).
“BTC’s dominance is currently at 41.82 percent, while its resistance lies between $46,000 (roughly Rs. 35 lakh) and $51,000 (roughly Rs. 39 lakh). BTC can reverse the four-month-long downtrend if it crosses the lower resistance of $46,000 (roughly Rs. 35 lakh),” Edul Patel, CEO and Co-Founder of Mudrex crypto investment firm, told Gadgets 360.
A small number of altcoins opened with losses today, opening up opportunities for interested investors to buy the dips if they please.
Nevertheless, the overall sentiment towards cryptocurrencies seem to be taking a positive turn amid geopolitical tensions.
Pavel Zavalny, the chief of the Russian Federation, has hinted at the possibility of accepting Bitcoin as payment mode for its oil and gas from “friendly countries” such as China and Turkey.
At a time the is seeking a glimpse into financial performances post legalising BTC, Salvadoran president has met with , who is currently visiting the first nation in the world to have legalised Bitcoin.
Cryptocurrency is an unregulated digital currency, not 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 sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.