A day before Christmas, the crypto market stepped into December 24 bearing early gifts for the investors. After days of sluggish performance, Bitcoin started the day by adding 4.55 percent to its value, and taking it up to $53,305 (roughly Rs. 40 lakh) on Indian exchange CoinSwitch Kuber. This is the first time in days that Bitcoin managed to surge beyond the mark of $51,000 (roughly Rs. 38 lakh). On international exchanges such as CoinMarketCap and Binance, Bitcoin is trading at around $50,973 (roughly Rs. 38 lakh).
Ether also found itself chiming right into the merry season along with Bitcoin, gaining 2.37 percent. Presently, Ether is trading at $4,285 (roughly Rs. 3.2 lakh) per token according to Gadgets 360’s crypto price tracker.
“With the weekend approaching, retail traders should tread with caution while taking aggressive trades. The low volumes aid whales could easily manipulate the market,” Edul Patel, CEO and Co-Founder of crypto investment firm Mudrex told Gadgets 360.
Meanwhile, the overall flaky sentiment towards the crypto sector seems to have taken a breather amid the holidays.
Crypto exchanges are busy adding more altcoins in their portfolios for traders to trade in.
Internationally, several crypto firms have added Bitcoin gifting features to get more people to invest in the cryptocurrency and rope in their friends and families into the space as well.