Bitcoin price falls, most other cryptocurrencies in red
India Today
Bitcoin rose around 8 per cent over the last four days. However, on Wednesday, Bitcoin was down by 0.69 per cent to $31,437.72.
Bitcoin's price on Wednesday fell after its recent mini-rebound. However, even after the fall, the world's largest cryptocurrency was trading over $31,000-mark. Ethereum was also down.
This came amid ongoing inflationary concerns and the prospect of a recession.
Bitcoin rose around 8 per cent over the last four days. However, on Wednesday, Bitcoin was down by 0.69 per cent to $31,437.72.
"Bitcoin retained its gains for another consecutive day. Bitcoin was changing hands above US$31,000 in the past 24 hours. BTC surged to a peak of US$31,949 yesterday after buyers reacted to the oversold conditions," Edul Patel, co-Founder and CEO of Mudrex, said.
"The initial support at US$30,000 could avoid further breakouts, while the resistance at US$33,000 could stall upward momentum, which could be limited," Patel said.
Ethereum fell by 2.92 per cent to $1,921.01.
While most of the cryptocurrencies fell, Luna rose over 11841 per cent.
