Cryptocurrency News Live: Bitcoin Shows Signs Of Recovery

Cryptocurrency News Live: Bitcoin Shows Signs Of Recovery

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Cryptocurrency News Live: Bitcoin Shows Signs Of Recovery

Cryptocurrency Price Today: Bitcoin Manages To Rise Above $20,000

Bitcoin (BTC), the world’s oldest and most-valued cryptocurrency, showed slow signs of recovery early Tuesday morning following a massive dip that saw its value plunge below $20,000 over the weekend. Alongside, most of the popular altcoins, including the likes of Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Litecoin (LTC), and Ripple (XRP) saw minor gains in the last 24 hours. Among lesser-known altcoins, the Lido DAO (LDO) token emerged to be the biggest gainer with a 24-hour jump of over 13 percent. 

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Background

Cryptocurrency still remains a mystical subject for many keen investors in India. While cryptos are slowly gaining recognition from investors and regulators alike, with countries and leading brands adopting it as an official tender, there are still a sizeable number of people who wish to invest in crypto, but aren’t able to closely track breaking and developing news in the sector, which will help them take note of price movements, major sell-offs, and announcements of new blockchain-based developments. 

This live news blog is here to help. From major market losses to noteworthy declarations, follow this live blog to stay updated with all the latest happenings in the world of crypto.

While there are many cryptocurrencies to explore, Bitcoin (BTC) is the most popular as it is the world’s oldest and most valued crypto coin. As of August 30, Bitcoin price stood at $20,217.58, as per CoinMarketCap data. At the time of writing, the global crypto market cap stood at $979.87 billion, registering a gain of 2.85 percent in the last 24 hours. 

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While cryptocurrency is unregulated in India, cryptocurrencies are clubbed under virtual digital assets (VDAs). Under the new tax regime that went into effect on April 1 this year, VDAs attract taxation of 30 percent on gains. A TDS of 1 percent will be applied on top of that. 

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.