On Tuesday, October 17, Bitcoin profits reached 3.42%, marking the highest single-day gain in the past two weeks. At this point, the price of BTC has reached $28,175 (approximately Rs. 2.34 million). In the past 24 hours, the value of BTC increased by $971 (approximately Rs. 80,817). This comes after cryptocurrency news publication CoinTelegraph incorrectly claimed that a spot BTC ETF had been approved. Asset management firm BlackRock and other entities in the cryptocurrency community quickly debunked the message, leading CoinTelegraph to issue a formal apology.
Ethereum has gained 1.56% in the past 24 hours. ETH is currently trading at $1,588 (approximately Rs. 1.32 lakh). This marks a $26 (approximately Rs. 2,164) increase in the price of ETH in the past 24 hours.
“Bitcoin price surged to $30,000 (approximately Rs. 2.58 crore) after cryptocurrency news website Cointelegraph published a misleading post on 832 crore). BlackRock and other sources immediately refuted the claim, and Cointelegraph later apologized for spreading the inaccurate information. Bitcoin subsequently returned to $28,000 (~Rs 2.44 crore) and is currently slightly above that level,” the CoinDCX research team told Gadgets360.
We apologize for a tweet that resulted in the spread of inaccurate information about the Blackrock Bitcoin ETF.
An internal investigation is currently underway. We are committed to transparency and will share our findings with the public once they are determined…
— Cointelegraph (@Cointelegraph) October 16, 2023
Other cryptocurrencies achieving profitability today include Binance Coin, Ripple, Solana, Cardano, Dogecoin, Polygon, Tron, and Litecoin.
Bitcoin Cash, Monero, and Neo Coin are also trading in the green.
The overall market rose 0.85% in the past 24 hours and is now valued at $1.09 trillion (approximately Rs 90,69,617 crore) coin market cap.
“BlackRock’s iShares ETF filing sparked a wave of similar filings from other asset managers such as WisdomTree, Invesco and Fidelity, signaling potential investment inflows. While some analysts expect a spot Bitcoin ETF to launch by the end of the year, the SEC has not yet Make an official statement. Zcash (ZEC) and UMA (UMA) were the top gainers on WazirX in the past 24 hours,” WazirX Vice President Rajagopal Menon told Gadgets360.
Cryptocurrencies that suffered losses today include Tether, USD Coin, Polkadot, Shiba Inu, Chainlink, Leo, Avalanche, and Stellar.
Other altcoins that fell include Cosmos, Near Protocol and Elrond.
Cryptocurrency is an unregulated digital currency, not legal tender, and is subject to market risks. The information provided herein is not intended and does not constitute financial advice, trading advice or any other advice or recommendation of any kind provided or endorsed by NDTV. NDTV is not responsible for any loss arising from any investment based on any perceived recommendations, predictions or any other information contained in the article.
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