Several cryptocurrencies enjoyed increases in their base prices over the month of August, while the bulk of cryptocurrencies experienced losses as the month came to an end. Monday, August 29, saw a 0.74 percent little price decline for Bitcoin at the opening. According to Indian exchange CoinSwitch Kuber, the price of one bitcoin is currently $19,808 (roughly Rs. 15.80 lakh). BTC didn't make any money at all on foreign exchanges either. According to CoinMarketCap and Binance, the price of one bitcoin is currently at the same level of $19,830. (roughly Rs. 15.80 lakh).
Ether typically lagged BTC and suffered losses. According to Gadgets 360's cryptocurrency price tracker, ETH is currently trading at $1,450, a loss of 2.70 percent, or nearly Rs. 1.16 lakh.
Losses were reported for Tether, Ripple, Cardano, Solana, Polkadot, and Polygon.
In the midst of the ongoing market instability, even Dogecoin and Shiba Inu failed to make gains.
"Bitcoin, Ethereum, and the majority of cryptocurrencies were unable to restart advances after the Fed's announcement to raise interest rates. Investors have been watching the market closely for signs of improvement, but little has changed. According to Edul Patel, CEO and co-founder of the cryptocurrency investment platform Mudrex, "we could see BTC's price dropping considerably lower if it closes below the $19,500 (about Rs. 15.60 lakh) barrier today.
Litecoin, Monero, Bitcoin Cash, Binance Coin, and Binance USD all made the list of winners.
According to Patel, "the overall sentiment points to a downward trajectory in the coming week."
According to CoinMarketCap, the total market value of the cryptocurrency industry has fallen below the trillion dollar threshold.
The value of the cryptocurrency market is currently $954.11 billion, or around Rs. 76,35,042 crore, down 1.29 percent from the previous day.
