Bitcoin 6f4b6y Ether Record Marginal Hikes; Going Remains Tough for Dogecoin and Its Copycats

Bitcoin is wrapping up the first week of November at $67,212 (roughly Rs. 49.9 lakh) on Indian exchanges. 2b6b16

By Radhika Parashar | Updated: 5 November 2021 11:26 IST

Bitcoin, Ether Record Marginal Hikes; Going Remains Tough for Dogecoin and Its Copycats

Cryptocurrencies are decentralised and unregulated medium of online payments 6r3618

Highlights

Bitcoin, Ether, and Chainlink among cryptocurrencies to gains
Cardano and Ripple witness dips
Dog coins including the Dogecoin and Shiba Inu value drops

ment

As the week draws to an end, the value of Bitcoin failed to make a bulky gain on Friday, November 5. The oldest cryptocurrency in the world rose marginally by 0.43 percent in valuation and is currently trading at $67,212 (roughly Rs. 49.9 lakh) per token, on Indian exchanges like CoinSwitch Kuber. Globally the prices are a little lower but still remain strong. Despite minor gains and losses, the reigning crypto-coin managed to hold its value over $62,000 (roughly Rs. 47 lakh) ever since it reached a new peak during the last few day of October.

crypto price tracker.

At a glance, the crypto-price chart today looked like a mixed bag of mixed red and green price indicators.

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Chainlink are among some cryptocurrencies to have ed minor gains.

While crypto-coins including dog-based copycats.

Potential DOGE competitor Shiba Inu has also been losing value for the past few days. The dog-token ed a significant loss of 15.92 percent and is currently trading at $ 0.000049 (roughly Rs. 0.003633). This drastic dip in the SHIB price comes after the cryptocurrency, on October 25, ed a 50 percent spike and became the 11th-biggest cryptocurrency coin by market value, WatcherGuru had reported.

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Floki Inu, and Kishu Inu are among other meme-based dog coins to have lost values in this last week of November.

The crypto-space is increasingly attracting people to enter and experiment with its elements including metaverse

In a recent report, for instance, research firm Civic Science said US residents in low-paying jobs are churning profits from crypto investments and are considering quitting their jobs.

The survey finds that almost two-thirds of the people who left their jobs had an income of less than $50,000 (roughly Rs. 37.2 lakh) annually and the "financial freedom" offered by their crypto-assets gave them the confidence to resign from their jobs.

Wow 4% of people in the USA have quit their jobs because of Crypto gains, and the vast majority made under 50k. Now we know why so many people quit low paying jobs. And this was BEFORE the current runup @cnbc @elerianm @novogratz @Austan_Goolsbee https://t.co/0K5ozoOw1j
— Mark Cuban (@mcuban) November 3, 2021

Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

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Cryptocurrency Prices across Indian exchanges

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Further reading: Shiba Inu

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at [email protected]. More