Cryptocurrency Price: Bitcoin Up By 9 Percent

Cryptocurrency Price: There was a boom in the cryptocurrency market, with Bitcoin up by 9 percent and Dogecoin by 12 percent.

Bitcoin and Ethereum saw a drop of about 20 percent in the past few days. Bitcoin had fallen below $19,000, while Dogecoin had also come down below $1,000.

However, a change in this trend was observed on Monday and the cryptocurrency market saw a rise.

According to data from Coingecko, bitcoin, the world’s most popular cryptocurrency, gained 9.3 percent over the past 24 hours and was trading at $20,079.48.

Ethereum was seen trading with a gain of 12.6 percent at $ 1,082. On the same lines, Dogecoin was trading at $0.08513 today with a jump of 12.5 percent.

Cryptocurrency Price: Talking about other cryptocurrencies, most of them were trading strongly today. The global cryptocurrency market cap rose to $885.72 billion.

It has registered an increase of 7 percent during the last 24 hours. However, the total trading value of the cryptocurrency saw a decline of around 11 percent.

Meaning, that traders trading in cryptocurrencies are cautious in view of the recent trend

The increase in interest rates by the US Federal Reserve to control inflation is reducing liquidity in the markets and due to this, the sentiments of crypto investors have been affected.

Since the beginning of this year, Bitcoin, the most popular cryptocurrency, is down 57 percent, while Ethereum has lost up to 70 percent.

Central banks around the world have increased interest rates to control inflation. Because of this, selling is being seen in digital assets.

Uncertainty is also being witnessed in the cryptocurrency industry due to measures to curb withdrawals from cryptocurrencies by lenders like Celsius and check frequent withdrawals by DEFI applications.

Sovereign Gold Bond: Sovereign Gold Bond is open for subscription, and new investors are getting discounts.

The government is issuing the next installment of the Sovereign Gold Bond on Monday.

RBI had informed that the first installment of the Sovereign Gold Bond (SGB) scheme for the current financial year is being opened from June 20.

The issue price for the new tranche of Sovereign Gold Bonds has been fixed at Rs 5,091 per gram of gold. Some discount is also being given to the investors who invest in it.