Last update: 11 – April – 2022 11:54 PM
Bitcoin
The cryptocurrency Bitcoin recorded a decline of 5.3 percent, in the latest trading on Monday, and reached 39,831.99 dollars, down regarding 2,240 dollars from its previous closing level.
Bitcoin, the largest and most popular digital currency in the world, is down 17.3 percent from this year’s high of $48,234 hit on March 28.
As for ether, the second largest cryptocurrency, it fell 6.6% to $2,991.51, down $210.86 from its previous closing level.
The decline in cryptocurrencies comes amid fears of tightening monetary policy in the United States, and the move by the US Federal Reserve to raise interest rates.
Virtual currencies do not have a serial number and are not under the control of governments and central banks, like traditional currencies, but are dealt with only over the Internet, without a physical presence of them.
A Archyde.com poll showed that the Federal Reserve (the US central bank) may raise interest rates by 50 basis points in the May and June meetings, or a total of 100 points, according to what 56 economists out of 102 surveyed by the agency said.
