look news india
Mumbai: After crossing the record high of $1,00,000 on Thursday, the major crypto currency Bitcoin has seen a big reversal in the last twenty-four hours. In the last twenty-four hours, Bitcoin fell from a record high of $1,03,583 to just under $94,000 at one point. However, the price rose back to around $98,000 late in the evening. Bitcoin witnessed a high of $103,567 and a low of $93,468 in the last twenty-four hours.
Market sources said Bitcoin has seen volatility with profit-taking at higher levels. Following Trump’s victory, there are signs that institutional investors are quite active in Bitcoin, seeing large price movements, while retail investors have not yet participated.
Following Bitcoin’s correction, the global market capitalization of the cryptocurrency fell to $3.60 trillion.
Bitcoin and other cryptos got much-needed support on Thursday as Donald Trump chose crypto marketeer Paul Atkins to replace outgoing US Securities and Exchange Commission (SEC) Chairman Gary Gensler.
After the victory of Donald Trump in America, Citibank has expressed the view that crypto markets are benefiting from the positive environment. A note from the bank also said that easy monetary conditions and flexible growth are positive for crypto tokens.