The beginning of 2022 is not proving to be good for the cryptocurrency market. For the past few days, the prices of many big cryptocurrencies including Bitcoin, Ether, Dogecoin, Shiba Inu have been declining continuously. On Tuesday, January 4, the value of bitcoin (Bitcoin latest value) recorded a decline of 0.61%. At the time of writing this news, the price of bitcoin token on Indian exchange CoinSwitch Kuber was around $49,922 (approximately Rs 37 lakh). Let us tell you, a few days ago around Christmas, the price of bitcoin was around $52,000 (approximately Rs 38.7 lakh) on several exchanges, but soon after, the price fell again. At the time of writing this news, on global crypto exchanges such as Binance and CoinMarketCap, the world’s oldest and most popular cryptocurrency was trading at $46,299 (approximately Rs.34.5 lakh).
Like Bitcoin, the price of Ether (Ether price in India today) also saw a decline today. According to Gadgets 360’s cryptocurrency price tracker, the world’s second largest cryptocurrency by market value fell 0.83% and is currently trading at $4,037 (approximately Rs 3 lakh).
Tether, Cardano, Ripple, Dogecoin, and Shiba Inu are among other altcoins that have seen their price decline.
However, there are some cryptocurrencies, whose value has increased. These include USD Coin, Polkadot and Chainlink.
Considering this ongoing fall in the prices of most coins, market experts believe that something good may happen in the crypto market in the coming times. This means that the prices are expected to move back up.