Pessimism dominates cryptocurrencies.. Bitcoin lands below $ 17 thousand

 

Pessimism dominates cryptocurrencies.. 

Bitcoin lands below $ 17 thousand

1. Cryptocurrencies slide alongside US
2. stocks as economy struggles
3. as federal policies tighten

The trading price of Bitcoin has fallen again

for less than $ 17 thousand

1. and many smaller cryptocurrencies
2. referred to as alternative cryptocurrencies
3. have fallen significantly

with concerns that cryptocurrencies market problems are far from over.

Bitcoin fell 1.81% to

$16,709 at 12:48 pm GMT on Saturday.

Earlier last week

Bitcoin had its highest price since Sam Bankman's cryptocurrency company Farid filed for bankruptcy protection over the past month, according to a report published by Bloomberg and seen by Timo.

Ethereum fell 2.72% to $1180

while other currencies such as Avalanche and Solana also declined.

Cryptocurrencies fell alongside US stocks

as the economy suffered as the US Federal Reserve tightened.

The retreat dissipated a brief rise that

had reduced part of last November's cryptocurrency losses.

Since the beginning of the current year, Bitcoin has fallen by approximately 65%.

The senior analyst at Fairlade Strategies

Will Tamplin said bitcoin was at risk of re

1. approaching its lows last November
2. with the currency falling to
3. its lowest price since November 2020.

Noel Acheson

• author of a newsletter entitled "Krepto Inf Macro Now"

• stated that investors continued to have concerns about

• the fate of other cryptocurrency

• related companies, including "Benance Holdings".

The BNP encrypted symbol Benance dropped 6.3% Friday

losing about 50% last year.

The majority of investors who would have sold did so, she continued, "although there may be some news of the ugly crisis contagion that is not yet over."

Shares of companies associated with the cryptocurrency world continued to come under pressure, with Queen Pace Global falling 9% to $34.71, another lowest in its history.

Bitcoin lands below $18,000 after US federal resolutions

Bitcoin fell on Thursday after the U.S.

Federal Reserve indicated that interest rates could be increased as investors continued to monitor the implications of the collapse of the "FTX" cryptocurrency exchange.

This came after the world's largest cryptocurrency surpassed $18,000, with last 24-hour highs of $18,356.50.

Bitcoin is currently trading around the $17,700 level.

The price of Ether

1. which on Wednesday reached a high of more than a month.
2. also fell by more than $1,350.
3. Cryptocurrency trades at around $1,290.

Bitcoin dropped from $18,000 after the U.S.

Federal Reserve raised its benchmark interest rate by 0.5 percentage points to a 15-year high, and noted that there will be more highs next year, according to CNBC. net ".

U.S.

• stocks also fell after the Federal Reserve's decision.

• Bitcoin has become closely linked to US stock indexes

• particularly the tech-intensive Nasdaq.

Investors are also monitoring the continuing repercussions of the staggering collapse of FTX, which led to the company's bankruptcy and the arrest of prominent founder Sam Bankman-Fried.