Food delivery firm Zomato Ltd shares nearly doubled in value in debut trading on Friday, in the first stock market listing of an Indian startup valued at more than $1 billion.
On Tuesday, Bitcoin’s price was trading around $29,300, going under $30k for the first time after a month, and today we are back above $31,500. The same is the case for Ether which went to $1,717 and is now near $1,915. The total cryptocurrency market cap has also gone above $1.32 trillion.
Bitcoin, ether prices struggled on Monday after failing to gain any momentum over the weekend. Popular cryptocurrencies have been under sell-off for over a week due to a lack of positive developments.
Bitcoin: Most major cryptocurrencies plunged on Wednesday as bears continue to push prices lower. Barring US dollar pegged coins, the top 10 traded cryptocurrencies were down up to 25 per cent in the last 24 hours.
Pre-IPO companies are essentially private companies that have established business model and revenues with intention to list on stock exchanges to raise new capital or unlock existing shareholder value.
Bitcoin (BTC) started off the day on a weak note and is struggling around the $33,000 mark. The world’s most popular cryptocurrency fell 0.60 per cent in the last 24 hours and its market capitalisation has taken a marginal hit.
A JP Morgan analyst has given a simple indicator that could help predict when the current bear run for Bitcoin will turn around again. JP Morgan’s Nikolaos Panigirtzoglou said that in the volatile cryptocurrency market, Bitcoin could start to rise again, if a few basic conditions are met.