Bitcoin investors appear to have taken their foot off the pedal and book profits ahead of Christmas after a positive run over the past couple of days. A strong rally of more than 5 percent earlier this week saw Bitcoin's valuation move past the $47,500 mark (roughly Rs. 35.86 lakh) on global exchanges but failed to push past the $50,000 (roughly Rs. 37.72 lakh) mark. At the time of publishing, Bitcoin's valuation is back in the red by 0.97 percent over the past 24 hours and is priced at $51,053 (roughly Rs. 38.51 lakh) on Indian exchange CoinSwitch Kuber, while global exchanges like CoinMarketCap show a 1.71 percent dip to see Bitcoin valued at $48,523 (roughly Rs. 36.59 lakh).
As per CoinGecko, Bitcoin's rally, earlier this week hasn't had a profound impact on price in terms of weekly performance. Over the past week, Bitcoin's value has seen a 0.7 percent dip.
Ether's plight was no different as Ethereum blockchain's native cryptocurrency began the day in the red after an underwhelming day of trade through Wednesday. The second most-valuable cryptocurrency in the world is down 1.68 percent over the past 24 hours after a dip of 0.27 percent through Wednesday. At the time of publishing, Ether is valued at $4,163 (roughly Rs. 3.14 lakh) on CoinSwitch Kuber while values on global exchanges see the second-largest crypto by market cap pegged at $3,950 (roughly Rs. 2.98 lakh), where the coin sees a steeper dip of 2.58 percent over the past 24 hours. This corresponds to Ether down by 1.1 percent in value over the week.
