Bitcoin and Ethereum again caught up in market chaos
The huge explosion of The Consolidation an industry led to a dissimilarity between the twomain cryptos, ethereum and bitcoin. Old fashioned the euphoria of this technological success, the market, weakened by the new rise in Took care of rates, has returned to the downward trend that has plagued it for 10 months.
Cryptos are caught up by the sharp deterioration of the markets, especially bonds. On Friday, bitcoin and ethereum lost 3% to $18,650 and $1,280 respectively. Over the week, their fall is 5% and 11%. Again highly correlated to American activities, particularly technological ones, bitcoin and ethereum are within the sphere of influence of the Federal Reserve. In other words, until the rate hike and market review process is complete, a strong and significant rally in cryptos is unlikely to occur. Over the past nine years, bitcoin fell 80% of the time in September and fell around 10% on average. It rebounded in the same extent the following month and often strongly, with acquires of 10% to 60%. But that was in a very different low rate environment.
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