Bitcoin, Ether Bulls Maintain Key Resistances As Terra Leads Altcoins
While the situation with the Russia-Ukraine crisis has not necessarily improved over the past few days, the broader crypto market has managed to mark a shift with both Bitcoin and Ether rallying over the past 24 hours. . The world’s most valuable cryptocurrency has had a dismal seven days of trading, losing more than 14% of its value, but Tuesday saw Bitcoin mark a 3.24% increase in value in 24 hours. via. The value of Bitcoin is currently $40,341 (approximately Rs. 30 lakh) on the Indian exchange CoinSwitch Kuber.
Meanwhile, on global exchanges, the price of the most popular cryptocurrency stands at $38,002 (or $29 lakh), up 3.45% in the past 24 hours – an important feat for with BTC bulls as analysts see $38,000 (approximately Rs. 29 lakh) as a significant area of support and resistance. According to CoinGecko data, Bitcoin’s strong movement in the first few weeks of February was the driving force as the crypto asset has dropped 14.6% in value in the past week alone.
Ether, the second largest cryptocurrency by market capitalization, has also fallen significantly over the past week, but the past 24 hours have seen the crypto asset increase in value. At the time of publication, Ether is valued at $2,808 (approximately Rs. 2 lakh) on CoinSwitch Kuber while its value on global exchanges shows the cryptocurrency hovering above the $2,600 mark. (about Rs. 2 lakh) at $2,636 (about Rs. 2 lakh) ). The coin has gained 3.76% in the past 24 hours. Compared to the price of Ether a week ago, CoinGecko data reveals that the value of the cryptocurrency has dropped by 16.5%.
Gadgets 360’s Cryptocurrency price tracker revealed that all the top digital tokens are in the green as the global crypto market cap is up around 3% in the last 24 hours. When avalanche and Terra leading the green wave Polygon, Polkadot, Cardanoand Solana all follow.
The Shiba Inu and Dogecoin meme coins – the two most sought after meme coins – have increased in value in the past 24 hours. Dogecoin is currently worth $0.14 (about Rs 10) after increasing 4.58 percent in the last 24 hours, while, Shiba Inu was valued at $0.000026 (about Rs 0.002), up 5 percent in the last 24 hours.
While the crypto market shows signs of recovery, Kevin O’Leary, a Canadian millionaire investor, is currently comparing Bitcoin holdings to software experts’ stock ownership. O’Leary in a recent Twitter posts said holding BTC assets is similar to holding shares of companies like Microsoft and Yahoo. Between 2019 and 2021, the 67-year-old ‘Shark Tank’ investor has gone from being an avid Bitcoin opponent to being one of its supporters. According to his prediction, Bitcoin value will hit $300,000 (about 2.25 crore) once the market gains more clarity on activity.
Gunnercook, a UK-based law firm, has officially payment enabled for its services in crypto assets like Bitcoin and Ether. Founded in 2010, the London-based firm claims to have more than 300 lawyers on its team. By integrating crypto payments with its operations, Gunnercook is now among a small group of companies that offer a crypto payment option, and most of them are located in the US.
In an official statement, the law firm claims to have become the first in the UK to accept fees in Bitcoin and Ether, among other crypto assets.
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