🔹The Bitcoin exchange rate fell again, reaching a value of less than $29,000. Altcoins are also trending down. The most popular one, Ethereum, has already lost about 20% from the last peak of its value. And for the first time, stablecoins began to loudly untie themselves from the dollar, thanks to which they remained stable.
❓What will happen to cryptocurrencies in the future?
🔹There was a similar situation last year in July when bitcoin hit below $29,000. Today, analysts attribute such a sharp drop to the tightening of the monetary policy of the US Federal Reserve.
🔹At the last meeting, the American regulator raised the key rate to 0.75% -1% per annum. Fed Chairman Jerome Powell has signaled that further rate hikes of another 0.50% will be discussed at upcoming meetings. That is, loans will rise in price, there will be less money in the economy.
According to experts, Bitcoin and its altcoins have begun a bearish trend. It is likely that bitcoin has already reached its bottom mark and will soon begin to rise. But it is possible that its cost may drop to $20,000.
As for stablecoins, they are starting to lose credibility. The stablecoin of the Terra ecosystem - TerraUSD (UST) - has lost its peg to the US dollar. On May 11, the price of the asset fell below the level of 40 cents. US Treasury Secretary Janet Yellen has called for stablecoin regulation by the end of 2022 to avoid such crashes.
🔹At the same time, analysts assume that this situation will not last long. Most likely, interest and trust in stablecoins will recover in the near future, since crypto market participants, in principle, need stable assets. But whether confidence in the TerraUSD stablecoin that has collapsed in price will be restored or crypto investors will be looking for a new stablecoin - the question remains open.
#Lumighost #BTC #cryptocurrency #crypto #altcoins #stablecoin #trends #blockchain
❓What will happen to cryptocurrencies in the future?
🔹There was a similar situation last year in July when bitcoin hit below $29,000. Today, analysts attribute such a sharp drop to the tightening of the monetary policy of the US Federal Reserve.
🔹At the last meeting, the American regulator raised the key rate to 0.75% -1% per annum. Fed Chairman Jerome Powell has signaled that further rate hikes of another 0.50% will be discussed at upcoming meetings. That is, loans will rise in price, there will be less money in the economy.
According to experts, Bitcoin and its altcoins have begun a bearish trend. It is likely that bitcoin has already reached its bottom mark and will soon begin to rise. But it is possible that its cost may drop to $20,000.
As for stablecoins, they are starting to lose credibility. The stablecoin of the Terra ecosystem - TerraUSD (UST) - has lost its peg to the US dollar. On May 11, the price of the asset fell below the level of 40 cents. US Treasury Secretary Janet Yellen has called for stablecoin regulation by the end of 2022 to avoid such crashes.
🔹At the same time, analysts assume that this situation will not last long. Most likely, interest and trust in stablecoins will recover in the near future, since crypto market participants, in principle, need stable assets. But whether confidence in the TerraUSD stablecoin that has collapsed in price will be restored or crypto investors will be looking for a new stablecoin - the question remains open.
#Lumighost #BTC #cryptocurrency #crypto #altcoins #stablecoin #trends #blockchain
Did you know that FBI owns 1.5% of the world’s total bitcoins?
🔎 The FBI has been involved in the cryptocurrency market ever since fraud cases started spiking. The agency received over 20 million dollars in funding, dedicated to preventing and fighting cybercrimes, and it has also seized roughly the same amount of money in Bitcoin. Both of these sources combine to make the FBI one of the largest holders of Bitcoin in the world, with more than 1.5% of all Bitcoin in their possession.
#blockchain #btc #bitcoin #economy #cryptocurrency #market #crypto #FBI
🔎 The FBI has been involved in the cryptocurrency market ever since fraud cases started spiking. The agency received over 20 million dollars in funding, dedicated to preventing and fighting cybercrimes, and it has also seized roughly the same amount of money in Bitcoin. Both of these sources combine to make the FBI one of the largest holders of Bitcoin in the world, with more than 1.5% of all Bitcoin in their possession.
#blockchain #btc #bitcoin #economy #cryptocurrency #market #crypto #FBI
