BitCoin Crash: The price of the world’s largest cryptocurrency, BitCoin, continues to fall. Since November’s record level, its market value has come down by more than 60 thousand million dollars.
BitCoin Crash: The price of bitcoin, the world’s largest cryptocurrency, continues to fall. Last year in November 2021, it had crossed the record level of 68 thousand (Rs 50.61 lakh crore) but since then it has been slippery and till now its market capital has decreased by more than 60 thousand crores (Rs 44.65 lakh crore). Is. One bitcoin is currently available at a discount of about 45 percent from the record price.
The Federal Reserve can reduce bond purchases from the market and can also increase interest rates in the coming times. Due to this, pressure is being seen on the risky assets of the markets around the world. The impact of Fed’s policies is visible not only on bitcoin but on the entire crypto market and the market value has fallen by more than $ 1 trillion (Rs 74.42 lakh crore).
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bitcoin at 45% discount
Prices of bitcoin, the world’s largest digital asset, slid more than 12 per cent on Friday and its lowest level since July. Its prices have fallen below 36 thousand dollars (Rs 26.79 lakh). Bitcoin is currently at a 45 percent discount from the record price of November. Apart from bitcoin, ether and other digital assets are also showing slippage.
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Prices under pressure from Fed’s policies
The impact of the Federal Reserve’s policies on other cryptocurrencies, including bitcoin, is visible. The Federal Reserve may reduce its purchase of bonds this year to reduce access liquidity from the market. It will gradually buy fewer bonds and in addition, it can increase interest rates. Due to this there is pressure on the market. Cara Murphy, Chief Investment Officer, Castra Investment Management, says that in the current circumstances, most investors are investing in stronger options, due to which they are pulling money back from crypto. Investors are investing in low-risk options, the impact of which is visible on cryptocurrencies.
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Current prices of cryptocurrencies
According to the price given on the website of crypto platform CoinDesk, with a fall of 10 percent, bitcoin is now getting at Rs 26 lakh, while ethereum is down 15.51 percent to Rs 1.79 lakh and dodgecoin is down 17.86 percent at Rs 9.39 lakh. Getting it on price.
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