Investors are waiting for the FED meeting, which could agree to raise interest rates. How does this affect the market?
After a great start to the week, the market for cryptocurrencies stumbled again and down 2%the portal states Coingecko. There is uncertainty in the ecosystem, and investors are waiting for the publication of the minutes from the FOMC (Federal Open Market Committee) meeting.
It is possible that the monetary entity decides on a new one interest rate increasewho affected the capital market. While the last adjustment by the Federal Reserve (FED) was only 25 basis points, an increase of up to 50 points is now being discussed.
Despite all this, well-known voices in decentralized finance have pointed out that tokens showed great resistance. For example, CEO of crypto company Onchain Capital, Ran Neunertweeted: "This market is extremely strong given the movements in the US stock market."
BITCOIN PRICE: IN CUTONTO IS ON THE LIST TODAY, FRIDAY, FEBRUARY 17
just a few days ago, Bitcoin (BTC) It reached the highest price of the month, close to 25,000 US dollars. Instead, today the most traded cryptocurrency has cooled and is in the $24,121.69.
This last figure shows that the price of the token down 2% in 24 hours. However, bitcoin also registered a an increase of 8.7 percent in the last 7 days and 6.2% in the whole month.
According to Coinmarketcap, the market capitalization of star coins down 1.55% of yesterday, but the amount of money that drives the transactions bitcoins rose by almost 7%.
PRICE OF ETHEREUM: IN CUTONTO IS ON THE LIST TODAY, FRIDAY, FEBRUARY 17
Ethereum (ETH), the second most relevant cryptocurrency on the market, was not very lucky at this start of the day either. The token marked a decline with a price of $1,642.45.
This price implies a A decrease of 2.3% in 24 hoursbut yes an increase of 5.5 percent in the last 7 days. As Bitcointhis coin also saw a drop in market capitalization and an increase in trading volume.
Among the major altcoins (alternative tokens to Bitcoin) BNBplatform cryptocurrency Binanceprices from USD 307.42, Cardano (ADA), is located at u$s 0.386131 and Solarium (SOL) at $23.57.
BITCOIN, ETHEREUM IMTOS: HOW ARE YOU?TO CRYPTOCURRENCY MARKET TODAY?
Despite the uncertainty and risk of a more aggressive monetary policy with cryptocurrencies, general feeling of "greed" on the market, according to "Fear and Greed Index". It is an indicator that investors turn to to gauge the behavior of traders and the ecosystem, broadly speaking.
From their latest data, we see that investors have risk of starvation and commercialization, they want to make big returns. In a way, this behavior is in contrast to the general decline that tokens are currently facing.
Source: Cronista
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
