Crypto Price Today LIVE: Bitcoin, Ethereum, Polkadot, Dogecoin shed up to 4%

economictimes.indiatimes.com:

Despite discouraging economic indicators, bitcoin was holding above $20,000. Fresh concerns over the regulatory environment although kept sentiments in check. Barring BNB and Unus Sed Leo, which gained up to 6 per cent, all other major crypto tokens were trading in the red on Friday. Bitcoin and Ethereum gave up to 3 per cent each. Polkadot, XRP and Dogecoin plunged up to 4 per cent each.

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The global cryptocurrency market cap was trading at the $868.83 billion mark, dropping more than 2 per cent in the last 24 hours. However, the total cryptocurrency trading volume zoomed more than 22 per cent to $75.11 billion.What's cooking in IndiaReserve Bank Governor Shaktikanta Das on Thursday described cryptocurrencies as «clear danger» and said that anything that derives value based on make believe, without any underlying, is just speculation under a sophisticated name. The government is in the process of finalising a consultation paper on cryptocurrencies after gathering inputs from various stakeholders and institutions. Reserve Bank of India (RBI) has been flagging concerns about cryptocurrencies, which are seen as a highly speculative asset.Expert takeAlthough price action suggests a consolidation, market participants still seemed to be gripped by bearish momentum, said Edul Patel Co-Founder CEO of Mudrex. «It will be an interesting coming few days. The number of ETH available across exchanges has seen a steady rise in recent times. It comes the bearish sentiment across the participants,» he added.Global updates