Crypto Market in Profit, Bitcoin Price More than USD 59,300

The price of Ether has increased by 1.06 percent. It was at around $3,115 on international exchanges. Its price was trading at around $3,312 on Indian exchanges. Apart from this, there was profit in Avalanche, Cardano, Polkadot and Near Protocol. Crypto Market capitalization of was up 2.73 percent to about $2.17 trillion.

Shivam Thakral, CEO of crypto exchange BuyUcoin, told Gadgets360, “The crypto market is showing early signs of recovery. The German government’s large-scale sale of bitcoins has increased the pressure. Volatility may continue in the market in the coming weeks. If bitcoin stays above $60,000 for at least two weeks, it may rise.” Bolivia has lifted the ban imposed on bitcoin almost a decade ago. Its aim is to balance the country’s economy and modernize the payment systems.

Bolivia has become the first country in Latin America to take steps in favor of crypto. However, its central bank has not given legal currency status to bitcoin or other cryptocurrencies. The Central Bank of Bolivia has also allowed banks to make crypto transactions. Banco Central de Bolilvia said that it is withdrawing the ban imposed on payments by cryptocurrency, including bitcoin payments. The debt in this country is expected to increase to more than $ 21 billion by 2029. Banco Central de Bolilvia has allowed banks to use acceptance electronic channels and facilitate crypto payments. However, bitcoin or other cryptocurrencies are not recognized as legal currency in Bolivia. Allowing crypto transactions can help it get more money through remittances as these transactions from abroad are not delayed and usually no charges are levied on them.