Cryptocurrency prices today: Bitcoin rates fall after returning to 50,000
- On August 23, the price of Bitcoin crossed $ 50,000
- On Friday, it is trading at $ 49,640, up 0.59 percent.
- The second largest crypto etherium is bullish but the price of dogecoin has dropped
- Meanwhile, the price of XEC has risen more than 50 percent in the last 24 hours.
Bitcoin, the world’s most popular, largest and oldest cryptocurrency, crossed the 50,000 mark on August 23, but has since fallen. Bitcoin is trading at $ 49,640 (Rs 32,65,194), up 0.59 per cent at 10:30 am, according to crypto exchange WazirX.
Ethereum, the world’s second-largest cryptocurrency, traded up 1.44 percent at 3,815.09 (Rs 2,89,183.8). The cryptocurrency, which started as a joke, fell 0.73 percent to 29 0.29. Meanwhile, the price of XEC has risen more than 50 percent in the last 24 hours. At 10:30 a.m., it was trading up 38 percent.
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Why are cryptocurrency prices rising?
Rising decentralized finance (DFI) and non-fungible tokens (NFTs) and rising interest rates from institutional investors have pushed up cryptocurrency prices this year. In addition, Twitter Inc. is building a base to allow Bitcoin tips in its Tip Jar feature. Meanwhile, in the Central American country of El Salvador, the law relating to bitcoin will take effect from September 7. El Salvador is the first country in the world to recognize bitcoin.
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