Most of the cryptocurrency prices fell today, Saturday, April 9, 2022, and the famous Bitcoin lost more than 3% of its value in less than 24 hours.
The market value of cryptocurrencies decreased by 3.17% to reach $1.97 trillion, amid cash flows during the last 24 hours, which amounted to $85.89 billion.
The Federal Deposit Insurance Corporation, a US government institution that insures depositors of US commercial and savings banks, issued a financial institution letter Thursday. The letter asks institutions supervised by the agency to notify the appropriate regional manager of their activities with crypto-related assets or their intentions to engage in crypto-related activities.
According to the letter, “It is difficult for institutions, as well as the Federal Deposit Insurance Corporation, to adequately assess the safety, financial stability, and consumer protection implications without considering each cryptocurrency-related activity on an individual basis.”
Thus, the FDIC wants to receive all information necessary for it to “share with the Corporation regarding relevant risks” arising from its current or intended cryptocurrency activity and to “provide relevant supervisory feedback to the FDIC oversight institution, as applicable At an appropriate time.” Institutions are encouraged to contact government regulators simultaneously.
The price of Bitcoin (BTC) (the largest and most famous digital currency in the world), today, Saturday, April 9, 2022, decreased by 3.23% to reach $42,451.42, and the market value of the most popular currency in the world shrank to $807.1 billion.
The highest level reached by the price of Bitcoin was on the 10th of last November, when it recorded 68 thousand and 992 dollars.
Now, one analyst has forecast that Bitcoin will reach $1.3 million, and the “upward trend” of gold and Bitcoin is likely to be “dramatic,” Forbes magazine reported.
The price of the Ethereum coin (ETH) decreased by 2.64% to record $3,206.14.
The price of Binance coin BNB fell by 2.45% to levels near $424.37.
The price of the XRP currency fell 3.08% to the levels of $0.7605.
The Cardano coin lost 5.10% to $1.04.
The price of Polkadot fell by 4.02% to the levels of $19.65.
The DOGE/USD price fell 5% to $0.143 levels.