---
title: "Bitcoin cools down after touching its highest this year"  
description: "Bitcoin, an illegal currency in India, reached the highest of the year to $48, 234 on 28 March 2022."  
author: "Sanjay Goenka"  
published: 2022-03-29  
canonical: https://www.mindstick.com/news/1522/bitcoin-cools-down-after-touching-its-highest-this-year  
category: "cryptocurrency"  
tags: ["technology", "bitcoin", "cryptocurrency exchange platform", "cryptocurrency"]  
reading_time: 2 minutes  

---

# Bitcoin cools down after touching its highest this year

Bitcoin reached the top price this year and again it touches its ground. On Monday evening, it reached **$48, 234** which is the highest since **Dec 31**. Cryptocurrency faced a high loss after **[Russia started its invasion of Ukraine](https://yourviews.mindstick.com/view/83156/russia-starts-military-operation-in-ukraine)**.

## Highlights

```
Bitcoin hit $48, 234 on Monday evening
It’s the highest since December 31
Bitcoin showed a rise of 12% this week
```

**Also Read: [Lok Sabha approved Crypto Tax Amendments and set them to be implemented starting April 1](https://www.mindstick.com/news/1519/lok-sabha-approved-crypto-tax-amendments-and-set-them-to-be-implemented-starting-april-1)**

Bitcoin held ground on Tuesday, just below what it was in during the highest of this year. After Russia attacked Ukraine, since then it topped about 27%. The surge in Bitcoin also helped it to surge in some smaller cryptocurrencies like ether, known as the second-biggest **[cryptocurrency](https://www.mindstick.com/news/1176/cryptocurrency-exchanges-is-under-probe-for-tax-evasion-of-rs-70-crore-dggi)** has hit **$3,436** on Monday evening.

[Crypto market](https://www.mindstick.com/news/3852/the-crypto-market-will-double-in-size-to-5-trillion-by-the-end-of-2024) players said about the surge in crypto gives [clear signs](https://yourviews.mindstick.com/story/4826/8-clear-signs-you-re-dealing-with-a-low-intelligence-person) about the adoption of cryptocurrency by institutional investors and [financial](https://www.mindstick.com/articles/13120/an-expert-financial-advice-will-improve-your-finances) firms, the interest of such firms and people rise the acceleration of the journey of cryptocurrency to mainstream asset from a niche technology.

Last week alone, Bitcoin showed about a 12% of rising. When many people predicted the great loss in crypto during the ongoing Russia-Ukraine War, BlackRock’s Chief Executive said that the**[Russia-Ukraine war](https://yourviews.mindstick.com/view/83158/russia-s-full-scale-invasion-of-ukraine-shocked-the-world)** could end up accelerating [digital currencies](https://answers.mindstick.com/qa/97568/how-do-central-bank-digital-currencies-work) as a tool to settle transactions.

A **US-based crypto firm Genesis**, head of market insights said about such a move signals a “growing conviction that the crypto markets are worth dedicating more resources to,” stated Noelle Acheson.

Bitcoin hit an all-time high of **$69,000** last year in November **2021.**

**Also Read: [Indian Government Has No Plans to Introduce a Cryptocurrency: Government to Rajya Sabha](https://www.mindstick.com/news/1497/indian-government-has-no-plans-to-introduce-a-cryptocurrency-government-to-rajya-sabha)**

---

Original Source: https://www.mindstick.com/news/1522/bitcoin-cools-down-after-touching-its-highest-this-year

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