Bitcoin, Ether Prices Surge as Popular Cryptocurrencies Record Gains After Two Days of Slump

Bitcoin price finally witnessed a slight rise of 2.38 percent on Thursday, September 30. Currently, the world’s most-valued cryptocurrency is trading at Rs. 34,28,765 (roughly $46,116).

This marginal surge in Bitcoin value comes two days after it witnessed dips along with other cryptocurrencies.

The fluctuations in the crypto market were triggered by China’s blanket ban on cryptocurrencies that was imposed last week on September 24.

All major cryptocurrencies experienced dips in values following the recent market instability.

Ether, too, following Bitcoin opened with a gain of 3.8 percent. The world’s second most-valued cryptocurrency is trading at Rs. 2,38,307 (roughly $3,205).

This surge in the Ethereum blockchain’s native cryptocurrency comes a day after its value dipped by 1.39 percent.

Among the cryptocurrencies that witnessed slumps in values, Cardano, USD Coin, and Uniswap registered minor losses, as per the Gadgets 360 crypto-price tracker.

Earlier this week, industry experts had expressed hope for the crypto market to recover despite China criminalising crypto trading.

Other crypto-supporting regions like Miami city in the US and the Central American country El Salvador are taking measures to reduce the carbon footprint associated with crypto mining.

While Miami is exploring the possibilities of setting up a Bitcoin-mining hub near a nuclear power plant in Florida state. El Salvador is working on powering Bitcoin mining with volcanic geothermal energy.

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