Crypto Market Seeing Volatility before US Presidential Electrion, Bitcoin Price More than USD 69,000, Ether in Red

There is volatility in the crypto market before the presidential elections in America on Tuesday. Bitcoin, the largest cryptocurrency by market capitalization, was up by about one percent. Its price on international exchanges was around $69,050 and on Indian exchanges it was around $70,167.

second largest cryptocurrency There was a slight decline in Ether. Its price on international exchanges was around $2,465 and on Indian exchanges it was around $2,754. Apart from this, the prices of Tether, Binance Coin and Solana, Polkadot, Cardano, Litecoin, Chainlink and Near Protocol have decreased. Bullish cryptocurrencies included USD Coin, Ripple, Tron and Monero. In the last one day, the market capitalization of crypto was down by about two percent to about $ 2.25 trillion.

The market desk of crypto app CoinSwitch told Gadgets360, “The results of the presidential election are awaited in the US. Last month, transactions on the Bitcoin network reached a monthly high. These transactions crossed the two crore mark. Bitcoin is near its all-time high and its share in the crypto market has increased to more than 60 percent. Edul Patel, CEO of crypto exchange Mudrex, said, “Technical charts are indicating strength in the market but investor reaction to the US election will be important.”

Software companies have also started betting in this segment. After MicroStrategy, Microsoft, one of the big software companies, can also invest in Bitcoin. The company has asked its shareholders to give feedback for this. Microsoft had given this information in a filing to the Securities and Exchange Commission (SEC) of America. Earlier the company had explored business possibilities in crypto and Web3 but it has not added Bitcoin or any other cryptocurrency to its balance sheet. About two years ago the company had listed the position of ‘Director of Business Development – Cryptocurrencies’. This indicated that it wanted to expand in blockchain technology. Microsoft has also invested in blockchain firm ConsenSys. Recently MicroStrategy purchased approximately $1.1 billion in Bitcoin. This software company has a lot of holding in Bitcoin.