Bitcoin is down nearly 11% from last week and is currently trading at $ 56,868. After hitting a high of 68,789.63 inr, on November 10, it started declining.
According to a Reuters report, the decline in Bitcoin is due to higher profit margins. Dogecoin, meanwhile, rose 7% to 0.23 dollar.
Shiba Inu also rose 15 per cent to 0.000049 dollar. Similarly, prices of other cryptocurrencies like Lightcoin, XRP, Polcadot, Stellar, Cardano and Solana have also gone up.
India, on the other hand, is now considering crypto legislation, which could be introduced during the winter session of Parliament.
At the same time, several major Indian exchanges in the region have decided to suspend their public-outreach operations.