Crypto Market in Profit, Bitcoin Price more than USD 97,000, Ether Increases More Than 2 Percent

After the last few weeks of volatility, the crypto market was on Wednesday. Prior to the upcoming FOMC’s upcoming meeting in the US, the price of the biggest cryptocurrency Bitcoin in terms of market value has increased by about three percent. Apart from this, many other cryptocurrency also had profit.

International Crypto Exchange after this report is published Binance But the price of bitcoin was trading at around $ 97,000. The price of the second largest cryptocurrency Ether raised by about 2.30 percent at around 1,840. Apart from this, the price of avalanche, chainlink, monero, ripple, cartesi and XRP has increased. In the last one day, Crypto’s market capitalization rose by about 1.50 percent to about 2.97 lakh crore dollars.

Market experts say that the interest rate in FOMC meeting is less likely to be cut. However, moving in this direction can cause a boom in the market. Resistance for bitcoin is $ 97,900 and support at around $ 93,700. If bitcoin breaks this resistance, it can move towards one million dollars. The price of the Ether is over 1,800 dollars and is a sign of strengthening it. However, the increase in tension between India and Pakistan may affect the market. In the next few weeks, the US may have a trade deal with some countries including India, China and Britain. This will create a possibility of speeding up markets.

However, the central government’s attitude towards cryptocurrency in India has been strict. The Supreme Court has also expressed apprehension about bitcoin. The Supreme Court has described trading in bitcoin as hawala business. Along with this, the court has also reprimanded the Central Government for not clarifying the situation regarding the regulation of virtual currency. The Supreme Court said during the hearing of a case related to illegal trading allegedly in bitcoin that it had asked the government to give information about the policy related to the trading of virtual currency for almost two years but he has not received any answer yet. In some countries regulations are being made for the Crypto segment.