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Bitcoin price on Tuesday, October 31 barely recorded any change in its value from last day. The most expensive crypto asset, Bitcoin, is currently trading at the price point of $34,270 (roughly Rs. 28.5 lakh). Over the last day, Bitcoin value reduced by $25 (roughly Rs. 2,081). If market experts are to be believed, as long as Bitcoin retains its value above the mark of $31,000 (roughly Rs. 25.8 lakh) — the market sentiment remains a bullish tone.
Ether joined Bitcoin to trade in the greens on Tuesday. With a small profit of 0.62 percent, the value of ETH now stands at $1,794 (roughly Rs. 1.49 lakh).
“BTC seems to be consolidating within a short range of $34,000 (roughly Rs. 28.3 lakh)-$34,800 (roughly Rs. 28.5 lakh). However, given its recent price rally, short-term BTC holders (less than 155 days) are participating in one of the strongest profit-taking events in the past couple of years. Considering the macro conditions unfolding, investors are hopeful to see a bullish trend take over,” Parth Chaturvedi, Investments Lead, CoinSwitch Ventures told Gadgets360.
The top 40 cryptos by market capitalisation seem to be trading in profits today, alongside Bitcoin and Ether.
Binance Coin, Ripple, Solana, Cardano, Dogecoin, Chainlink, and Polygon — all recorded profits today.
Polkadot, Litecoin, Avalanche, Stellar, Cosmos, Uniswap, and Cronos also managed to mint minor price spikes.
The overall crypto market cap rose by 0.47 percent in the last 24 hours but stayed at the mark of $1.27 trillion (roughly Rs. 1,05,73,111 crore) for the second consecutive day.
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