All major cryptocurrencies including Bitcoin, Ether, Shiba Inu fall

The performance of Dogecoin and Shiba Inu in the crypto market is also not good. The price of both coins has registered a decline. The price of both the cryptos has not increased since last month.

Special things

• Bitcoin, Ether, Dogecoin, Shiba Inu underperformed today.
• USD Coin, Cardano and Zcash Tokens List Gainers on the Chart.
• All major cryptocurrencies down including Tether, Ripple, Polkadot, Polygon.

The price of bitcoin (Bitcoin price in India today) also registered a decline on Friday, January 7. The world’s most popular cryptocurrency was trading at $45,488 (approximately Rs 33 lakh) at the time of writing, with a further drop of 2.45%. On the Indian exchange CoinSwitch Kuber, bitcoin closed at around $46,631 (about Rs 34.6 lakh) on Thursday. Even on global exchanges such as Binance and Coinbase, the value of each bitcoin was $41,741 (approximately Rs 31,000).

The performance of Dogecoin and Shiba Inu in the crypto market is also not good. The price of both coins has registered a decline. The prices of both the cryptos have not increased since last month. However, USD Coin, Cardano and Zcash are among the gainers on the token chart.

Two major events in the cryptocurrency market have plunged the price of bitcoin to a three-month low. The massive fall in the price of bitcoin came after the US Federal Reserve indicated that it may postpone its decision to hike interest rates until mid-March. The US Federal Reserve is going to stop printing notes and make it more expensive to borrow to stabilize the economy and keep inflation under control.

In addition, Internet shutdowns occurred in Kazakhstan, the country that accounts for 18 per cent of the bitcoin network’s hash activity, causing BTC’s hash rate to drop by 13.4%.