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Despite The News Of A New Variant Of The Coronavirus, Bitcoin, Ether, And Other Altcoins Continue To Rising In Value

Over the last month, Ether looks to have performed better than Bitcoin.

New COVID-19 variant news sent Bitcoin and other cryptocurrencies plummeting in value at the tail-end of a roller-coaster week. On the Indian market CoinSwitch Kuber, Bitcoin is presently priced at $56,910 (approximately Rs. 42.6 lakh), up 0.26 percent following a hefty 7.92 percent loss on Friday. Although CoinMarketCap values Bitcoin at $57.276 (approximately Rs. 42.9 lakh), it is startling to see that the world’s most popular cryptocurrency has gained 5.5% in the last 24 hours. CoinGecko statistics show that Bitcoin’s value has fallen 7.3 percent in November, making it one of the most volatile months of the year.

On Friday, Ether had a 9.34 percent drop, much like Bitcoin. Although the second most popular cryptocurrency has regained 3.01 percent over the last 24 hours alone, it is priced at $4,342 (approximately Rs. 3.25 lakh) on CoinSwitch Kuber, and $4,314.9 (about Rs. 3.23 lakh) on worldwide exchanges, where the rebound is substantially stronger at 6.85 percent. An Ether price tracker indicates that the Ethereum blockchain’s native cryptocurrency fell 7.3 percent in value during this month’s peak of $4,870, according to Gadgets 360’s cryptocurrency price tracker (roughly Rs. 3.61 lakh).

[ Also Read: In the NPS, Are You Interested In Investing? Here’s Everything You’ll Ever Need to Know About ]

At the time of this writing, the market tracker seems to be positive, with most of the most prominent cryptocurrencies in green. There has been a general rise in the price of many altcoins in the last day, while the value of Tether has fallen 3.66 percent.

Coins of memes It’s been a hard few weeks for both Dogecoin and Shiba Inu. Currently selling at $0.21 (approximately Rs. 15.54), Dogecoin has fallen by 0.91 percent in the last 24 hours, while Shiba Inu has risen by 3.97 percent. There has been a dip in SHIB’s market value, but DOGE is still in the top 10.

Investors fled risky assets in favor of Treasuries, the yen, and the dollar after the newly discovered, possibly vaccine-resistant coronavirus type sank Bitcoin on Friday.

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I Varsha Chhirolya having an experience in digital marketing of 5 years, I am an account manager in CREATIVE Ad Agency.

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