Bitcoin price increased, What about Ether?

Over the weekend, the price of bitcoin increased and remained around $48,000. (roughly Rs. 35 lakhs). On Monday, October 4, Bitcoin began the day with a 1.96 percent drop. Despite the modest drop, the world’s most valuable cryptocurrency is currently trading at Rs. 36,53,453 (about 49,285), indicating an increase in its exchange value since October 1. Bitcoin was trading at around Rs. 34,23,691 (approximately 46,082). Following China’s recent crackdown on cryptocurrency-related activity, the value of Bitcoin and other cryptocurrencies fluctuated dramatically last week.

However, cryptocurrency prices rose over the weekend as US Federal Reserve Chair Jerome Powell reaffirmed to the crypto sector that the central bank had no plans to restrict digital assets. On Monday, Ether also saw a low opening.

 According to the Gadgets 360 crypto-currency price tracker, the cryptocurrency based on the Ethereum blockchain is currently selling at Rs. 2,59,219, representing a 2.16 percent dip.

For most of last week, the world’s second most valuable cryptocurrency saw a drop in exchange value. On Friday, October 1, the altcoin hit a new low, trading at around Rs. 2,36,255 (around $3,179). However, it is worth noting that Ether did recover in terms of the total value, rising by about $300 (Rs. 22,238) over the weekend.

Discussions decentralized crypto-assets

Among other cryptocurrencies, Cardano, Tether, Ripple, and Polkadot all debuted with slight value declines. Only a few cryptocurrencies started the new week with small increases. EOS, Shiba Inu, Neo, and Bitcoin SV are among them.

Between China criminalizing crypto-activities and areas like El Salvador, Miami, and the United States supporting cryptocurrencies, particularly Bitcoin, the crypto market remained volatile in September. More countries, however, are beginning to debate the advantages of allowing these unregulated and decentralized crypto-assets to operate.

According to a recent article from FullyCrypto.com, the US Federal Reserve is considering producing a digital dollar.

While Tesla CEO Elon Musk stated last week that these unbreakable cryptocurrencies are here to stay, venture capitalist Chamath Palihapitiya noted that Bitcoin has effectively supplanted gold in modern times.