The largest cryptocurrency in the world by market capitalization, Bitcoin, led other cryptocurrencies in a slow-moving mode after dropping more than 4% of its value over the weekend. However, the week has already started off looking better. Bitcoin's value has increased marginally over the past day by 0.65 percent, but it is still trading below the $20,000 (roughly Rs. 15.97 lakh) mark on most international exchanges. On the Indian exchange CoinSwitch Kuber, BTC is currently valued at $19,873 (roughly Rs. 15.97 lakh), up 0.65 percent from yesterday.
Bitcoin is presently valued at $19,875 (approximately Rs. 15.87 lakh) on major international exchanges like CoinMarketCap, Coinbase, and Binance, up 1.1 percent from last Monday, according to CoinGecko data.
On the other hand, Ether has maintained its value going into the eagerly anticipated "Merge" week and even managed to increase its price over the weekend. Currently, the value of Ether is $1,576 (approximately Rs. 1.25 lakh) on CoinSwitch Kuber and $1,576 (about Rs. 1.25 lakh) on international exchanges. The value of the cryptocurrency has increased by 1.7 percent during the previous 24 hours.
The value of Ether has increased significantly over the course of the past week thanks to its performance. According to CoinGecko data, the value of the second-largest cryptocurrency in the world has increased by 9.5 percent week over week.
The cryptocurrency price tracker from Gadgets 360 suggests that most significant altcoins had a day of modest rises over the previous 24 hours. Through late Sunday and early Monday, there was a significant 0.81 percent increase in the market capitalization of all cryptocurrencies.
In the previous day, there were slight gains for Polkadot, Uniswap, Cosmos, Solana, Monero, Cosmos, Avalanche, Cardano, Polygon, TRON, and BNB.
Memecoins Along with the majority of alternative currencies, Shiba Inu and Dogecoin saw slight price increases. Shiba Inu is currently worth $0.000013 (about Rs. 0.001018), up 3.76 percent over the past day, while Dogecoin is currently priced at $0.06 (around Rs. 5.3), up 0.85 percent over the previous 24 hours.
"As sellers have gotten increasingly active over the past week, the global cryptocurrency market has been in a bearish trend. Attempts to move Bitcoin above $20,000 (approximately Rs. 15.97 lakh) have been difficult. BTC has currently lost close to 71 percent of its value since its peak. Bulls may try to retake the $20,000 price level shortly if BTC can trade over the overhead resistance level. However, if BTC continues to receive denials, it may drop to the $18,000 (approximately Rs. 14.37 lakh) support level "explains Edul Patel, co-founder and CEO of the cryptocurrency investing company Mudrex in a statement to Gadgets 360.
"Ethereum, the second-largest cryptocurrency, is also experiencing difficulties close to the $1,600 (about Rs. 1.27 lakh) resistance level. If there is a downward trend at $1,400 (approximately Rs. 1.11 lakh), ETH's price may fall to the next support level at $1,260. (roughly Rs. 1 lakh). Overall, the cryptocurrency market is still trending downward, and a correction could happen soon "Adds Patel.
