Bitcoin 6f4b6y Ether Prices Dip Slightly as Bearish Investors Manage to Peg Back Most Popular Altcoins

Most popular altcoins lost value through Tuesday, with Uniswap being the worst hit of the lot. 5k1n15

By Shomik Sen Bhattacharjee | Updated: 9 February 2022 11:08 IST

Bitcoin, Ether Prices Dip Slightly as Bearish Investors Manage to Peg Back Most Popular Altcoins

Photo Credit: Unsplash 4h2y4v

Cryptocurrency prices today declined with BTC values hovering below the $44,000 mark

Highlights

Bitcoin bear manage to peg back BTC price to around $43,500
Ether price has moved above $3,000 mark
Dogecoin, Shiba Inu lost a fair bit of value

ment

Bitcoin has been on steady bull run since February 4 but there does appear to be a price ceiling for now, as after reaching a weekly high of $45,500 (roughly Rs. 35 lakh) early on February 8, bears were able to lower the price of Bitcoin further down, around $43,500 (roughly Rs. 32.5 lakh). Over the last 24 hours, the world's most valuable cryptocurrency has had a 1.5 percent dip in price after a 2.03 percent dip through Tuesday. Bitcoin's value currently stands at $46,170 (roughly Rs. 35 lakh) on Indian exchange CoinSwitch Kuber.

Meanwhile, on global exchanges, the price of BTC stood at $43,429 (roughly Rs. 32.5 lakh), down by 1.35 percent over the past 24 hours. As per CoinGecko data, Bitcoin's value has surged by more than 12 percent over the past week and an 18 percent rise over the past fortnight.

Ether, the second-largest cryptocurrency by market capitalisation, has followed Bitcoin's suit and had a price correction of its own after soaring past $3,000 (roughly Rs. 2 lakh) on global exchanges. At the time of publishing, Ether is valued at $3,266 (roughly Rs. 2.5 lakh) on CoinSwitch Kuber while values on global exchanges see the crypto's value at $3,081 (roughly Rs. 2.5 lakh) after a 2.36 percent dip over the past 24 hours. Compared to the price of Ether a week ago, CoinGecko data reveals that the cryptocurrency's value has surged by close to 11 percent.

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Gadgets 360's Uniswap topped the list of losers on the day with a 8 percent dip in value over the past 24 hours.

Meme coins haven't had a very good start to the year, but February appears to have changed fortunes for both SHIB and DOGE — the two most sought-after meme coins. Shiba Inu is valued at $0.000033 (roughly Rs. 0.0025), down by close to 9 percent over the past 24 hours. That said, both dog coins still stand a fair way into the green if you look at weekly price metrics.

Bitcoin bulls have successfully returned the main digital currency's price to the $44,000 (roughly Rs. 33 lakh) level, boosted by encouraging occurrences. Most notably, the Canadian subsidiary of ing major reported in a recently filed 10-K that it possessed nearly $2 billion (roughly Rs. 14,950 crore) in BTC at the end of last year.

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Meanwhile, India-based Ethereum scaling and infrastructure development platform Polygon made headlines on Tuesday after raising a Web3 applications.

Are Oppo's new flagship phones any good? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

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Cryptocurrency Prices across Indian exchanges

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