Cryptocurrency prices fell today, Sunday, January 9, 2022, and Bitcoin and the rest of the major currencies continued to bleed losses.
The losses of the world’s most famous digital currency “Bitcoin” reached more than 11% during the last 7 days of trading, while Ethereum lost more than 16% of its value during the same period, while Chainlink achieved during the last 7 days a gain of close to 30% of its value. worth.
The rise in US bond yields led to investors losing appetite for high-risk assets, amid global anticipation of inflation rates and the start of central banks to tighten monetary policies.
The market value of cryptocurrencies decreased today, Sunday, by 1.15% to reach $1.96 trillion, with a volume of trading during the last 24 hours, which recorded regarding $109.70 billion.
Although Bitcoin received the year 2022 with strong losses, amounting to 42,028 thousand dollars, its lowest value since last September, financial market experts expect a record jump in the price of the most famous digital currency in the world to reach 60 thousand dollars during 2022, Some have even exaggerated the increase in the price of Bitcoin, and it is likely that its price will reach $ 100,000 by the end of this year.
The price of Bitcoin increased by regarding 60% over the past year to outperform other financial assets, amid reports regarding its importance in resisting inflation and its role in diversifying investments and adopting financial institutions for it, but it has faced problems in recent weeks in light of the turmoil of financial markets.
The Federal Reserve (the US central) has tended during the recent period to increase interest rates and reduce stimulus packages in the context of a global policy of tightening monetary policies, which made investors refrain from high-risk assets, especially following the recent rise in US bond yields.
The US Federal Reserve member stated that the first increase in the interest rate may be in the month of March, while the subsequent increases in 2022 will depend on inflation developments in the United States.
As for the impact of the “Omicron” mutation on the economy, Pollard said that it is expected that infections will follow a similar pattern to injuries in South Africa – the birthplace of the mutant for the first time – noting that the numbers are expected to reach a peak in late January, but it will not change the course of all cases. From the US economy or the Federal Reserve.
The minutes of the last meeting of the Federal Reserve showed the desire of some members to accelerate the pace of raising the interest rate this year, in an effort to control inflation and with the recovery of the economy and the labor market.
Cryptocurrency rates today
The price of the digital currency Bitcoin BTC decreased by 0.33% to reach $41809.70.
The price of Ethereum ETH slipped 2.60% to $3,129.50.
The price of the Binance coin BNB plunged 4.58% to reach $433.74.
The price of the cardano ADA coin fell by 4.03%, to record $1.18.
XRP fell 2.62% to $0.7524.
The price of the Polkadot DOT coin lost 5.15% to $24.13.
DOGE (Dogecoin) lost 3.07% to $0.1521.
The price of Litecoin (LTC) fell by 1.88% to reach $130.44.
Chainlink LINK coin price rose 0.24% to $27.04.
