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    Home » After US federal reserve raised interest rates crypto is tumbling

    After US federal reserve raised interest rates crypto is tumbling

    AdminBy Admin14th June 2022 Finance 4 Mins Read
    After US federal reserve raised interest rates crypto is tumbling
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    The cryptocurrency market and US stocks both went down after the Federal Reserve of the United States said it would raise interest rates by a half of a percentage point to fight inflation. With this being said, we need to know about trading apps and how it affects the financial stability of the country and its businesses.

    At 5 p.m. EDT on Friday, Coinmarketcap said that the total value of the cryptocurrency market was $1.66 trillion, which was 7.73 percent less than the previous day.

    After the US Federal Reserve said this at a meeting on Wednesday, the most valuable digital currency in the world went up sharply and is now close to the $40K mark. Since then, though, it has dropped by 9.40% to $36,200, which is the biggest drop in the last four months.

    “The cryptocurrency market is used to wild swings,” says Mani Thawani, who started the company Mundo Crypto.

    Tata Digital’s top people look over the great application. Neu post-launch Tata Digital’s top people look over the great application. Neu post-launch In FY23, things would not go well for Indian IT firms. In FY23, things would not go well for Indian IT firms.

    It looks like Varun Beverages might finally get some good times after a few years of bad weather. It looks like Varun Beverages might finally get some good times after a few years of bad weather.

    Both US stocks and cryptocurrencies went up after Fed Chair Jerome Powell’s news conference. Both the S&P 500 and the Dow went up by more than 2%, but this was only a short-term gain.

    On Thursday, tech stocks (the Nasdaq was down 5%) and cryptocurrencies fell by a lot.

    Shivam Thakral, CEO of BuyUcoin, said, “Sellers dominated both traditional markets and crypto markets all week, and both markets went down again.” “The world’s stock markets and digital currency markets”

    Ethereum, the second most valuable cryptocurrency, lost 8.47% of its value and is now worth $35,830.Solana was trading at $81.30, which was down 12.19%; Cardano was trading at $0.7834, which was down 9.74%; Binance Coin was trading at $374, which was down 7.80%;

    Polkadot was trading at $14.15, which was down 11.58%; Avalanche was trading at $56.39, which was down 14.60%; and Dogecoin was trading at $0.1266, which was down 0.12%. (-6.38 percent).

    Analysts say that worries about inflation, the conflict between Russia and Ukraine, and rising oil prices will keep the stock and cryptocurrency markets unstable for the foreseeable future.

    The recent increase in bond rates is hurting the value of risky assets like tech stocks and cryptocurrencies.

    In the last few months, people on the market have noticed a link between IT stocks and the cryptocurrency market. This is because, most of the time, both markets move in the same direction.

    People who pay attention to the markets think Bitcoin will have a hard time over the next few weeks.

    “The price could go down if the $34,752 level of support is broken,” the analyst said. Thawani, who started Mundo Crypto, says, “On-chain metrics and technicals are finally looking at the possibility of a capitulation move below $30,000 or lower.” “The bearish thesis will be proven wrong if the price of the weekly candlestick closes above $52,000.”

    Small investors in India tend to be careful because their government has a high tax rate and digital assets are becoming more volatile in general.

    Investors are already affected by tax rates and now crashing the stock market has affected them even more. In the past year, a record number of young people started investing, but most of their portfolios are now losing money. Some investors’ investments have lost as much as 50–70% of their value. may now be able to see that a lot of investors are leaving the cryptocurrency market. Vishal Gupta, a well-known critic of cryptocurrencies from Noida, says, “There is no doubt that the euphoria of 2021 is over.”

     

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