Cryptocurrency prices after being under pressure on the previous day have again recovered in trade today on March 16, 2022. Bitcoin at the time of writing this copy as per Coindesk data is quoting higher by over 1% at $39,186.50. In INR, bitcoin is priced at Rs. 30,78,941 as on Wazirx exchange as at 10:28 am.
In early trade, bitcoin even hit $41K levels after moving to a low of $37,000 in the previous weekend. As per Coindesk report, gains in the most popular and biggest crypto came as major equity markets in Asia opened on a strong note with investors eagerly awaiting Fed interest rate decision. The markets have already discounted the fact that the Fed will begin hiking interest rates by 25bps (1 basis point is one-hundredth of a percentage point).
In line most other altcoins also traded in the green with Ethereum up over 2.93%, Chainlink up over 4%, Shiba Inu up by 0.46%, while Terra sank up to 6%.
Though there is some minor upward swing, the broader market continues to see volatility amid various uncertainties.
Back in India, crypto players are expecting clarity on various aspects of the digital asset class from the Parliament session which began on Monday.