Bitcoin Update Today: 17th Jan | Why is Bitcoin Falling?
After yesterday’s crash of nearly 10%, Bitcoin continued to fall further to a 6 week low of ~$11,000 per BTC. So BTC in INR is ~ Rs 7,02,000. Which means, in the last 24 hours, it has fallen a further 20%!
Bitcoin Crash
After yesterday, BTC crashed further to settle around the $11,000 mark. This is a 6 week low for Bitcoin.
As usual, with the falling of Bitcoin, other coins fell sharply too.
Why is Bitcoin Falling?
As usual, there is no way of saying with certainty why the prices are falling. However, many market watchers believe this downward motion is largely due to mass selling resulting from investors selling their BTC after the announcement of a crackdown by South Korea.
1. Bitcoin BTC Facts
The BTC price in INR is Rs 7,07,536
| Market Cap | $186,121,977,884 |
| Price | $11,074 |
2. Ethereum ETH Facts
The ETH price in INR is Rs. 64,083
| Market Cap | $97,310,604354 |
| Price | $1003 |
3. Ripple XRP Facts
The XRP price in INR is Rs. 68.11
| Market Cap | $41,325,367,985 |
| Price | $1.066 |
4. LiteCoin LTC Facts
The LTC price in INR is Rs. 11,402
| Market Cap | $9,777,396,551 |
| Price | $178.46 |
5. Stellar XLM Facts
The XLM price in INR is Rs. 25.40
| Market Cap | $7,114,247,316 |
| Price | $0.3976 |
6. IOTA Facts:
The IOTA price in INR is Rs. 150.78
| Market Cap | $6,562,359,817 |
| Price | $2.360 |
Where to Invest?
Considering crypto a serious investment option is a very big risk. Invest in cryptocurrencies only if you are not afraid to lose the money invested.
As you can clearly see, crypto prices can go up and down very quickly.
Mutual funds are much better in terms of risk. Even the riskiest mutual funds are far less risky than crypto currencies.
Mutual Funds vs Crypto
Mutual funds are managed by highly skilled fund managers whose job is to invest your money.
If you want to take high risk, you should explore small-cap funds. They invest in smaller companies that show great potential for growth.
In the last year alone, some funds have returned in excess of 60% per annum. That is a very high return.
Here are 2 small cap funds worth your money.
L&T Emerging Businesses Fund
| Risk Level | HIGH |
| Minimum SIP Amount | ₹500 |
| 1 Year Returns | 60.06% |
| 3 Year Returns | 27.63% |
HDFC Small Cap Fund
| Risk Level | HIGH |
| Minimum SIP Amount | ₹500 |
| 1 Year Returns | 51.68% |
| 3 Year Returns | 21.3% |
If you want to see the best mutual funds to invest in, checkout: Groww 30 Best Mutual Funds to Invest in 2018.
Happy investing!