Cryptocurrency Market Nosedives Amid Reports of Indian Government Ban
Cryptocurrency crash: Bitcoin, Ether, and other popular cryptocurrencies saw their prices drop steeply on Tuesday night. The crypto market price charts were drenched in red on Wednesday, November 24 following reports that the Indian government might ban cryptocurrency . With a drop of 25.51 percent, Bitcoin's value currently stands reduced to $46,601 (roughly Rs. 34 lakh) on Indian exchange CoinSwitch Kuber. On an international level, the world's oldest crypto has managed to maintain values above $50,000 (roughly Rs. 37.2 lakh), where usually the India prices are higher than global ones. On CoinMarketCap, Bitcoin is presently trading at a dipped value of $56,377 (roughly Rs. 42 lakh). This is the first time in recent times that Bitcoin prices have moved so further away from its all-time high, which as of November 9, was $68,327.99 (roughly Rs. 50.5 lakh). Given the stressed market mood, Ether also registered a drop of 20.83 percent in its trading value. Each token of Ether