Bitcoin Price more than USD 98,579, Ether SURGES More than 2 Percent

Crypto market has volatility for the last few weeks. However, there has been some recovery in this market on Wednesday. The price of the most popular cryptocurrency Bitcoin has increased by more than 0.70 percent. This market declined drastically after the President Donald Trump in the US imposed tariffs on countries such as China and Mexico. Trump has postponed the tariff’s decision for a month.

On publishing this report, Bitcoin’s price on the International Crypto Exchange Binance rose by about 0.80 percent to about $ 98,660. The second largest cryptocurrency Ether had a profit of more than two percent. ETHE’s price was around $ 2,840. Apart from this, there was a boom in BNB, Tron, Cardano and LiteCoin. The declining cryptocurrency included Solana, XRP and Chainlink. In the last one day, Crypto’s market capitalization declined by about 0.48 percent to about $ 3.2 lakh crore.

Market Analysts say that bitcoin is consolidated at $ 97,000 and has a resistance at $ 99,000. Bitcoin holds more than 61 percent in Crypto Market. Regulatory framework will be prepared for cryptocurrency in the US. During his election campaign, Trump indicated that Bitcoin’s reserve and a policy in favor of Crypto. However, the Federal Reserve did not agree on the plan to create a reserve of bitcoin. Recently this most popular cryptocurrency made high high of $ 1,09,200.

The central government’s stand on cryptocurrency in India has been strict. Recently, the Economic Affairs Secretary, Ajay Seth had said that the government’s stand on cryptocurrency is being reviewed. He said, “Some countries have changed their attitude in terms of use of cryptocurrency, their acceptance and importance. We are reviewing the discussion paper again.” He said that there are no borders for such assets and due to this the country’s attitude cannot be kept unilaterally. Dubai’s Crypto Exchange Bybit has been fined about Rs 9.27 crore in India due to violation of the Prevention of Money Laundering Act (PMLA).