Bitcoin continues to decline, the price reached here after breaking 55 thousand rupees
Bitcoin price update in INR: Last Saturday, the price of bitcoin fell by 2.23 per cent or Rs 55,855 and with it the value of this cryptocurrency fell to Rs 24,44,827. At this price, the market capitalization of Bitcoin also declined to Rs. 43.8 trillion.
The world's most popular cryptocurrency, Bitcoin, has seen some of the worst times since the beginning of 2022 and its downward trend is still going on. Bitcoin fell 2.23 per cent, or Rs 55,855, to Rs 24,44,827 on Saturday. At this price, the market capitalization of Bitcoin also declined to Rs. 43.8 trillion. Significantly, since reaching its all-time high in November 2021 last year, its price has dropped by more than 50 percent so far.
The price of the most popular cryptocurrency Bitcoin reached its all-time high of $ 69,000 (Rs. 51.28 lakh) in November 2021, down 50% from November 2021. But since then its price has dropped by about Rs 29 lakh or more than 50%. On January 7 alone, the price of Bitcoin fell 4.9 per cent to $ 41,008 (Rs 30.48 lakh). The year 2021 saw a lot of investment in cryptocurrency and the crypto market is expected to be vibrant in the new year as well. But in late 2021 and early 2022, there was a big earthquake in the crypto market and huge losses for investors.
Strong bounce is expected this year. With this, analysts predict that it will touch the level of $ 98000 (Rs. 73,50,000) in the near future. For 2022, crypto experts say it will again break the record of reaching one lakh dollars, or about 75 lakh rupees. At the same time, its value is expected to reach $ 1,35,000 (Rs. 1,01,25,000) by the end of the year.
Bitcoin is the most valuable cryptocurrency
Cryptocurrency is a virtual currency which means you cannot see it. Simply put, you can call it the digital rupee. No bank issues cryptocurrency. Only those who issue it control it. It is used only in the digital world. Currently, there are many types of virtual currencies in the world along with Bitcoin. But the value of Bitcoin is the highest among them. The attraction of investors towards Bitcoin has been increasing rapidly for some time now. Bitcoin has also given strong returns to investors.
When did Bitcoin start?
The credit for introducing this digital currency goes to a man named Satoshi Nakamoto. People believe that in the year 2009 a group called Satoshi Nakamoto introduced bitcoin for the first time in the world. However, the question of who they are and where they are is still a mystery. It started in 2009 and is now very popular. Please note that there is no government control over this currency. It is used only in the digital world. It is not controlled by any bank or government.
The risk in the crypto business is also not low
This cryptocurrency is highly volatile and therefore its trading is also very risky. For example, the value of Bitcoin rose to $ 42,000 in January 2021 and then fell to $ 30,000. In one week it rose again to 40,000. For Bitcoin, you have an app through which you make transactions. Let's say your file has been deleted from the server or the password is wrong, then your money is lost forever. There have been recent reports that some people lost millions of bitcoins because they did not have a password and forgot it.
29-Sep-2024