However, among all the popular cryptocurrencies, bitcoin in particular, rose, touching $64,000 (approximately Rs 47.53 lakh), an all-time high in April. Here’s a look at how some of these digital currencies have performed over the past few months:
Bitcoin: On Monday August 9, the price of bitcoin was around Rs 33.14 lakh which was up 0.67 per cent. It was last seen around Rs 32.87 lakh. This level is bitcoin’s highest since May 17, when the digital token was valued at $43,541 (approximately Rs 32.65 lakh). After several ups and downs to reach $29,793 (approximately Rs 22.34 lakh) on July 20, the digital currency has recovered significantly, which is the lowest in the past two months.
Ethereum: Ethereum generally follows the same path as Bitcoin. The second most popular digital currency was at around Rs 2.25 lakh on August 9, down 2.97 per cent from its previous day’s value of Rs 2.31 lakh. The price of Ethereum crossed $3,100 (approximately Rs 2.32 lakh) after May 18, when it was priced at $3,377 (approximately Rs 2.53 lakh). It hit its lowest price on July 20 when it opened at $1,786 (approximately Rs 1.33 lakh).
Dogecoin: Dodgecoin may not rank high in terms of value, but it is at the top of the popularity chart. What started out as a meme has been transformed into a digital token, which has continued support from Elon Musk and others. Dodgecoin price in India on August 9 was Rs 18.31, down 8.9 per cent from its previous day’s price of Rs 20. On May 9, the value of this coin was $ 0.568 (about Rs 42). The digital currency has since taken a hit, only to show signs of recovery in the first week of August, when it was valued at $0.261 (roughly Rs. On June 21, Dodgecoin touched its lowest price of $0.17 (approximately Rs 12.75).
Nothing is certain in any market, but it is one of the most uncertain among cryptocurrencies. However, the returns from these digital assets can be so high that you might even consider quitting your job for them. But remember, this is a high risk trade. Your fortune can rise rapidly and may even fall in no time.