Cryptocurrencies witness steep sell off on Thursday
On Thursday, once again there was a big fall in the crypto market. The crypto market, which has been facing a downward trend since the past, saw a huge fall in the prices of most of the currencies. Bitcoin, the world’s most popular cryptocurrency, appears to be in its worst form, hitting a 16-month low. Apart from this, all the digital currencies included in the top-10 were trading on the red mark.
Bitcoin continues to tumble
The trend of decline in the world’s most popular cryptocurrency bitcoin is not stopping. The strong fall on Thursday has given such a blow to investors that it seems difficult to recover from it at the moment. In the last 24 hours, the price of bitcoin has fallen by more than 10 percent or Rs Two lakh thirty five thousand to Rs 22,97,441.
Ethereum down 19%
Along with bitcoin, Ethereum, the second most popular among the top-10 cryptocurrencies, has also given a strong jolt to its investors. The price of Ethereum fell by 19 per cent or Rs 35,356 and the cryptocurrency fell to Rs 1,56,476. In November last year, Bitcoin and Ethereum touched their all-time high, and since then they have continued to decline except for a few days. Talking about bitcoin, it is currently down 55 percent from its all-time high.
Thursday has turned out to be a dark day for the crypto market. Apart from Bitcoin and Ethereum, Binance Coin has lost 17.35 percent to Rs 20,707. On the other hand, if we talk about Ripple, it has registered a decline of 26 percent. After this huge decrease, the price of Ripple has come down to Rs 30.69.
Not only the top-10 cryptocurrencies that fell on Thursday, but most of the digital currencies in the market are in bad shape. The Shiba Inu Coin, which is included in the top-10, has declined by 31 percent and its price has slipped by Rs -0.000378 to Rs 0.000849. Dodgecoin has fallen 25 per cent to Rs 6.42, while Polkadot also declined by 25 per cent to Rs 659.31. At the same time, the price of Litecoin fell by 22.50 percent to Rs 4,978.
