Bitcoin, the world’s largest cryptocurrency, extended the recovery it had staged after crashing over 25 percent Wednesday morning. It is currently trading over 5 percent higher at Rs 42.96 lakh on the Indian exchange, WazirX.
Bitcoin prices had crashed Wednesday after a government bulletin said the cryptocurrency bill seeks to ban all private cryptocurrencies in India. The bill also aims to create a framework for a rupee-based digital currency.
The cryptocurrency bill is expected to be listed in the Winter session of the parliament. Here is the top news from the crypto market from India and the world, along with global coin prices with data from CoinMarketCap.
A. Cryptocurrency prices
|Cryptocurrency||Current market price||24-hour change|
B. Crypto technicals
Bitcoin’s weekly timeframe shows the chart traversing within the ascending channel pattern with the key support at $53,000.
The weekly timeframe for BTC trend shows the chart traversing within the ascending channel pattern with the key support at $53,000, a spokesperson from the WazirX trade desk said.
C. Top cryptocurrency news
Official digital currency will kill cryptos: Ex-Finance Sec
NFT is Collins Dictionary’s word of the year
Collins Dictionary has chosen NFT (non-fungible tokens) as the world of the year as the interest in the asset class surged. Collins has defined it as a “unique digital certificate, registered in a blockchain, that is used to record the ownership of an asset, such as an artwork or a collectable.”
Bitcoin was trading cheaper in India Wednesday compared to global prices, here’s why
Most cryptocurrencies will not survive, says Raghuram Rajan
Regulate cryptos to stop manipulation by China and Russia, says Hillary Clinton
The former secretary of the state, Hillary Clinton said the cryptocurrency markets need strong regulations to avoid manipulation at the hands of Russia and China. Clinton was speaking to MSNBC on the “technology of all kinds” and said states and non-states can use these technologies to destabilise countries.
Morgan Stanley increases exposure to Bitcoin
US investment bank Morgan Stanley has increased exposure to Bitcoin by purchasing shares of Grayscale Bitcoin Trust. The bank increased holdings by over 60 percent in the second quarter of 2021.
(Edited by : Abhishek Jha)