Bitcoin Sees Slight Increase to $66,180
Over the weekend, the cryptocurrency market experienced significant price fluctuations following the US’s decision to maintain its current interest rates without revision. As the third week of March commenced, the market appeared divided between cryptocurrencies registering gains and those witnessing losses. Bitcoin, for instance, recorded a marginal increase of 0.08 percent on Monday, March 18, pushing its trading value to $66,180 (approximately Rs. 54.8 lakh). However, compared to the previous Friday, Bitcoin’s value had declined by $1,585 (roughly Rs. 1.30 lakh).
Meanwhile, Ether, the second-largest cryptocurrency by market capitalization, saw a notable uptick in value, surging by 2.63 percent on Monday. As per Gadgets360’s crypto price chart, Ether is currently trading at $3,467 (about Rs. 2.87 lakh), reflecting a positive trajectory amidst market volatility.
The past week was marked by a turbulent price trajectory for both Bitcoin and Ether. Bitcoin reached a new all-time high (ATH) surpassing $73,118 (around Rs. 60.5 lakh), while Ether’s trading value soared to $3,950 (approximately Rs. 3.27 lakh). However, following the US’s decision to maintain interest rates unchanged, the prices of several cryptocurrencies, including BTC and ETH, experienced a sharp decline overnight.
These fluctuations underscore the inherent volatility of the cryptocurrency market, influenced by a myriad of factors ranging from macroeconomic policies to investor sentiment. As market participants continue to closely monitor developments, the crypto landscape remains dynamic, characterized by rapid price movements and shifting market dynamics.
Majority crypto assets underwent price fluctuations over the weekend after the US decided to not revise or lower interest rates. Stepping into the third week of March, the crypto price chart looked bifurcated between profit-minting and loss-ridden cryptocurrencies. Bitcoin on Monday, March 18 minted a small gain of 0.08 percent – taking its trading value to $66,180 (roughly Rs. 54.8 lakh). Between last Friday and the present day, the value of Bitcoin saw a reduction of $1,585 (roughly Rs. 1.30 lakh).
Ether rose in value by 2.63 percent, Gadgets360’s crypto price chart showed on Monday. Ether is presently trading at $3,467 (roughly Rs. 2.87 lakh).
Last week, Bitcoin and Ether witnessed a roller-coaster ride pricewise. While Bitcoin touched a new all-time high (ATH) of over $73,118 (roughly Rs. 60.5 lakh) — Ether’s trading value also reached $3,950 (roughly Rs. 3.27 lakh). Following US’ decision to not reduce the interest rate hikes, the prices of several crypto assets including BTC and ETH nosedived overnight.