The largest cryptocurrency has advanced some 4% over the past two days and at one point reached $51,524 on Friday in Asian trading
Handle secured immediately; Indian crypto platforms say no significant fluctuation in prices recorded after mischievous tweet
This year saw a number of big fund managers and pensions start to dabble in crypto, while numerous big-name investors famed for their financial markets acumen have also gotten involved
Bitcoin rose 1.5% in early Asia on Tuesday, after firming overnight in line with equity markets and other risk assets, but many crypto traders remained on edge after Saturday's sharp and sudden plunge
Traders said the weekend fall was connected with the broad move away from riskier assets in traditional markets over worries about the Omicron variant
Bitcoin was 12% down at 0920 GMT at $47,495
The largest digital token fell as low as $42,296 before paring some of the tumble
Bitcoin plunged 5.5% to $53,435.9 at 22:04 GMT on Friday, losing $3,112.06 from its previous close.
It is estimated that $1.25 billion worth of cryptocurrency transactions have happened on decentralised finance platforms from India
The S&P 500 index has more than doubled since its pandemic lows of March last year, while Bitcoin is up over 1000%
"If I weren't at Square or Twitter, I'd be working on bitcoin," Jack Dorsey had said at a packed Miami conference in June
The government plans to introduce a Bill in this regard - the Cryptocurrency and Regulation of Official Digital Currency Bill 2021 - in the ongoing session
The government plans to introduce a Bill in this regard - the Cryptocurrency and Regulation of Official Digital Currency Bill 2021 - in the ongoing session
The government has no proposal to recognise Bitcoin as a currency in the country, Finance Minister Nirmala Sitharaman said in Lok Sabha
Smaller coins, which tend to move in tandem with bitcoin, also fell
BACC's statement comes days after the government listed for introduction in Parliament a bill to ban all private cryptocurrencies, with some exceptions
The government will allow only certain cryptocurrencies to promote the underlying technology and its uses, according to a legislative agenda released late on Tuesday
The discussions come as authorities race to finalize a bill Prime Minister Narendra Modi's government wants to present to parliament in the session starting Nov. 29.
The Bill 'seeks to prohibit all private cryptocurrencies in India however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses'
A progressive regulatory framework will create a prosperous crypto ecosystem and expand financial inclusion in the country in a secure, simple, and transparent manner