Crypto market in recovery, bitcoin price increase

After the fall of the last few days, there has been some recovery in the Crypto market on Friday. The largest cryptocurrency bitcoin price has increased by about one percent in terms of market value. Strict decisions of President Donald Trump in the US have affected the crypto market.

International Crypto Exchange after this report is published Binance But the price of bitcoin rose by about one percent to more than $ 97,020. The second largest cryptocurrency Ether was a rise of 1.30 percent. The Ether’s price was trading at more than $ 2,700. The price of XRP increased by more than 12 percent to about $ 2.75. The declining cryptocurrency included chainlink, Tether, Monero and BNB. In the last one day, Crypto’s market capitalization declined by about 0.20 percent to about $ 3.22 lakh crore.

Market Analysts say that bitcoin has a trend of recession in short-term. Increasing the apprehensions about inflation in the US has also had a negative impact. Traders in the Ether are less than other cryptocurrencies. Ether has declined significantly compared to bitcoin. There is a resistance at $ 3,000 for this. Recently, the US Securities and Exchange Commission (SEC) had reported that a task force has been created for the purpose of creating a regulatory framework for the Crypto segment. The central government’s stand on cryptocurrency in India has been strict. The Reserve Bank of India (RBI) has also demanded a ban on cryptocurrency.

Dubai’s Crypto Exchange Bybit has reported that it has paid a fine of more than nine crore rupees in India. The Financial Intelligence Unit (FIU) imposed the fine on bybit for not following the rules. Along with this, this Crypto Exchange has registered with FIU. It is necessary to register with FIU for all crypto firms doing business in the country. Recently, bybit had informed its customers in the country that it is stopping his services temporarily. After this, FIU had said that this exchange did not follow the Prevention of Money Laundering Act (PMLA) and would have to pay a fine of about Rs 9.27 crore.