Cryptocurrency price

Bitcoin Cryptocurrency Price Latest Buying Tips for Indian Investors

Prices for Bitcoin and major cryptocurrencies fell on Friday as investor appetite faded after Russia stepped up its attack on Ukraine.

Bitcoin was trading at just over $41,400, down 4.72%. The second-largest cryptocurrency by market cap, Ethereum, fell 6.18% to $2,730.

Other cryptocurrencies, XRP fell 3.65%, Solana fell 7%, Avalanche fell 5%, Cardano fell 5%, Polkadot fell 4%, Stellar fell 5%.

Popular cryptocurrencies such as Dogecoin fell 5%, Polygon 4% and Shiba Inu 4%.

CHINA TO UNDERTAKE DIGITAL YUAN TEST

Meanwhile, China is ready to approve trials of the central bank’s digital currency – the digital Yuan – in a number of cities and regions. Economic sanctions against Russia have shed light on the potential role of digital assets and cryptocurrencies.

TIPS FOR BITCOIN BUYERS IN INDIA

“Bitcoin has slipped below US$42,000 in the past 24 hours. The second-largest cryptocurrency, Ethereum, is trading at US$2,700. Most cryptocurrencies in the market are also down as Russia is stepping up its attack,” Edul Patel, CEO and co-founder, told Mudrex.

“The support price for BTC is between $37,000 and $40,000. To support the recovery phase, buyers need to hold BTC above the breakout level of $37,000. As there are very few signs of exhaustion, this could keep short-term bulls active in the crypto market,” Patel said.

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