Crypto Market in Profit, Bitcoin Price More than USD 65,960

Bitcoin, the largest cryptocurrency in terms of market value, was trading in profit on Wednesday. Its price has increased by more than three percent. The price of bitcoin was around $65,960 on international exchanges and around $68,430 on Indian exchanges like WazirX. There has been a recovery in the price of bitcoin in the last few days.

The price of Ether has also increased by more than two percent. It was around $3,510 on international exchanges like CoinMarketCap and around $3,147 on Indian exchanges. Apart from this, the prices of Avalanche, Tether, Binance Coin and Solana have increased. There was a decline in Cardano, Tron, Polkadot and Chainlink. In the last one day Crypto Market capitalization of was up 1.73 percent to about $2.41 trillion.

The market desk at crypto app CoinSwitch told Gadgets360, “The reports of Mt Gox selling 91,755 bitcoins worth around $5.8 billion have not had much impact on bitcoin prices. Spot bitcoin ETFs have seen $16 billion in investments since their launch in January. Funds are being invested in them even when bitcoin prices are fluctuating.”

Last month, Bolivia lifted the ban on bitcoin imposed almost a decade ago. Its aim is to balance the country’s economy and modernize payment systems. Bolivia has become the first country in Latin America to take steps in favor of crypto. However, its central bank has not given bitcoin or other cryptocurrencies the status of legal currency. Bolivia’s central bank has also allowed banks to make crypto transactions. Banco Central de Bolivia said that it is withdrawing the ban imposed on payments from cryptocurrencies, including bitcoin payments. The debt in this country is expected to increase to more than $ 21 billion by 2029. Banco Central de Bolivia has decided to allow banks to use acceptance electronic channels and provide crypto payments. However, Bolivia’s central bank has not recognized bitcoin or other cryptocurrencies as legal currency. Allowing crypto transactions can help Bolivia get more money through remittances.