Crypto Market Volatility, Bitcoin Price Below USD 66,200
Ether was down 3.28% to close at $3,190. However, on Binance it was around $3,514. Apart from this, the prices of Tether, Binance Coin, Solana, Cardano, Tron, Chainlink, Polygon, Litecoin and Stellar have also decreased. Crypto India’s market capitalization fell 3.22 percent to around $2.59 trillion.
Rajagopal Menon, vice president of crypto exchange WazirX, told Gadgets360, “Amid the volatility in Bitcoin’s price, demand for it has weakened. There is more emphasis on selling it. CPI data in the US could be the next tipping point.” market. That could give some indication of a rate cut from the Federal Reserve.” Crypto app CoinDCX said, “Sentiment on Ethereum is weakening due to lack of signal from US securities market regulator SEC. Ether’s efforts to break above $3,650 level are failing. To gain momentum.” It’s important to step up to that level.”
Benchmark Company analyst Mark Plimer predicted this. Bitcoin It could reach $150,000 by the end of next year. Polymer also nearly doubled its price target on US software company MicroStrategy to $1.875. He previously set a target of $990 for MicroStrategy. Polymer’s positive sentiment about the company is based on its bitcoin holdings. He said in an investor note that microstrategies would benefit greatly from bitcoin holdings as the supply of the most valuable cryptocurrency halved. Palmer predicted bitcoin to reach $125,000 on February 27. Since then, the price of Bitcoin has increased by about 27%. In some countries, steps are being taken to regulate this segment. In this context, the UK has decided to integrate the crypto segment with a regulated market.