Bitcoin Starts Trading Today with a 8 percent drop
Solana has a huge decline of 28 percent
All popular altcoins are in red
Ether price on Coinswitch Kuber is at Rs 1.69 lakhs
The falling price of the world's largest cryptocurrency is not taking its name to stop.
Things got worse for Bitcoin as Wednesday came to an end.
With the ongoing recession in the cryptocurrency market, the falling price of the world's largest cryptocurrency broke a one-year record.
By the time of closing of trading, bitcoin has fallen below $30,000 (approximately Rs 23.2 lakh) to reach $28,228 (approximately Rs 21.8 lakh).
This fall in price pushed the price of the world's oldest cryptocurrency back by a year and its price reached the same level as it was on 4 January 2021.
On Wednesday, at 8:50 pm (UST), the price of bitcoin fell from $ 29000 (about Rs 22.4 lakh) to $ 28,228 (about Rs 21.8 lakh).
Continuing the downward trend on Thursday, Bitcoin opened the trade at Rs 23.9 lakh, which is a decline of 8 percent in the last 24 hours.
At the time of writing the news, the price of bitcoin was at $ 30,948 (about Rs 23.94 lakh) on the Indian exchange Coin Switch Kuber.
Its price on global exchanges like Coinbase, CoinMarketCap, Binance has also declined significantly today.
Bitcoin is down 8.71 percent on Coinbase.
This percentage of decline on CoinMarketCap was 8.34 and on Binance, the world's largest cryptocurrency fell down 8.06 percent.
There is no good news for bitcoin as well as other cryptocurrencies.
Ethereum has registered a bigger drop than Bitcoin.
The percentage of decline in ether is more than double the percentage of decline in bitcoin.
Ether was priced at Rs 1.69 lakh on Indian exchange CoinSwitch Kuber at the time of writing the news, which is a decline of 14 per cent in the last 24 hours.
Barring stable coins, all other altcoins have seen a huge decline today.
Avalanche token saw the biggest decline, which is down 32 percent in the last 24 hours.
Apart from this, there has also been a big decline of 28 percent in Solana.
The Gadgets 360 Crypto Price Tracker shows that all popular altcoins are in the red and almost all are down 23-28 percent.
Dodgecoin lost 24 percent in price and Shiba Inu lost 28.4 percent.
At the time of writing the news, the price of Dodgecoin in India was trading at ₹6.93.
This huge fall in the crypto market has once again exposed the risks associated with the market.