Bitcoin Price Fail to Maintain Holiday Momentum

Bitcoin

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.

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Bitcoin Price Fail to Maintain Holiday Momentum via @marketinvestor

Bitcoin Price Drops Below $46,000 Today

Bitcoin Price

Bitcoin price extended its five-week slide from an all-time high with risk sentiment across global financial markets dwindling. The largest cryptocurrency by market value declined as much as 2.5% to $45,583 on Monday in New York. It has slumped about 32% since setting a record high in early November.

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Bitcoin Price Drops Below $46,000 Today via @marketinvestor

“Wait and See” Approach for Cryptocurrency Investors

Bitcoin

Former Bitmex CEO and cryptocurrency investor Arthur Hayes issued his opinion on what cryptocurrency investors should do in the context of the current market. In his latest digest, titled “Circo Loco” (Crazy Circus), Hayes expounds on the current market situation in view of the larger economic framework, taking the Federal Reserve tapering and the recent Evergrande default event into account.

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“Wait and See” Approach for Cryptocurrency Investors via @marketinvestor

India’s Gold Demand Faces Slowing Savings Rate

Gold Price

Gold demand in India is likely to face challenges from a declining household savings rate and lower agricultural wages, according to the World Gold Council. Rising income is one of the biggest drivers of gold demand, suggesting that as India’s economy grows, sales of the precious metal should increase, the WGC said in a report.

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India’s Gold Demand Faces Slowing Savings Rate via @marketinvestor