The Federal Reserve delivered a resounding blow to the market, causing Bitcoin to fall below $20,000.
The value of bitcoins I know collapsed again below $20,000 for bitcoin, pushed down by a Federal Reserve more aggressive that hit the market like a “sledgehammer”, while the price of Ethereum suffers the consequences of its merger.
While the merchants of BNB, XRP, Solarium, gimbal Yes Dogecoin urgently looking for a course, the researchers became alarmed that the historic ethereum exchange could result in the dumping of old ETH miners 245,000 Ethereum is worth more than $300,000,000 millions in the market.
After years of preparation, the Ethereum merger meant the network was secure and transactions confirmed by Ethereum holders ‘staking’ their coins instead of relying on miners.
“Miners dumping their ethereum is a hurdle we will need to overcome in the coming months to resume download-only mode, but it will happen,” he wrote. Luke Campbellpublisher of the Bankless newsletter.
Investigator data block chain Ok Link showed that miners have already started selling off their Ethereum reserves from 300,000,000 million US dollarsCoindesk reported.
“Mining pools have lost nearly 17,000 ethereum in the last seven days alone,” he wrote. Alex Kuptsikevichsenior market analyst at FxPro.
Bitcoin dipped below $20,000.
Kuptsikevich warned that although the market dipped from its lows earlier in the week, “the technical picture does not yet indicate a break in the downtrend.”
And to conclude, “the generalized tightening of monetary policy suggests greater pressure on the markets”.
Similarly, the massive sale opportunity of etherealmarkets will accept the series of huge interest rate hikes from the US Federal Reserve as it seeks to control the inflation galloping.
The Fed increased for the third consecutive time by 75 points despite warnings that it will trigger a bigger crash than the 2008 financial crisis.
Fed Chairman, Jay Powell he stressed to reporters, “We need to put inflation behind us. I wish there was a painless way to do that.”
The Biden Administration
On the other hand, the Biden administration sent a stark warning to the bitcoin and cryptocurrency industry after its massive price crash. u$s2,000,000,000,000.
In turn, the Chairman of the United States Securities and Exchange Commission (SEC), Gary Genslerwarned that the update of ethereal this could mean that cryptocurrency would be regulated as a security.
“Regulation is now high on the agenda for most of the industry, and this has been particularly highlighted in recent months,” he commented. Timo Lehesco-founder of decentralized finance (DeFi) infrastructure provider Swam Markets.