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Bitcoin Finally Bounces Back After Historic Slump

After over a week of declines, Bitcoin has finally seen a rise in exchange prices. Bitcoin’s price increased by 4.41 percent on Thursday, September 23, and the cryptocurrency began trading in India for Rs. 34,88,719, or about $47,237.26.

Bitcoin prices have risen for the first time since last week. Recent problems in China’s real estate market were thought to be caused by a $300 billion (approximately Rs. 22,15,657 crores) debt issuance by a Chinese developer, according to analysts. Along with Bitcoin, other cryptocurrencies such as Ethereum and Cardano have started the day on a bullish note.

Ethereum, the world’s second most valuable cryptocurrency, had a massive 8.65% increase in exchange prices. It is presently worth Rs 2,47,030.28 (about $3,344.79). Other cryptocurrencies, like Cardano, Ripple, Polkadot, and the meme-based Dogecoin, saw their exchange prices rise.

“In comparison to the rest of the week, the cryptocurrency market’s performance over the last 24 hours has been significantly better. The worldwide crypto market value increased by more than 3.2 percent as a result of this small rebound. According to Edul Patel, CEO and co-founder of crypto investing platform Mudrex, “the next 24 hours might be important for the crypto markets since there will be a continual struggle between the bulls and the bears.”



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