Bitcoin
BTC$70 223.87

0.77%

Ethereum
ETH$3 561.28

0.86%

Tether
USDT$1.000075

0.04%

Binance Coin
BNB$611.56

4.56%

Solana
SOL$186.31

1.37%

XRP
XRP$0.617884

1.08%

How the Fed sent Bitcoin down


27 Jan 2022

#Bitcoin

Bitcoin decreased by 0.6% on Wednesday, ending the day at around $36,400. Ethereum added 0.2%, while other top-ten altcoins mostly saw declines from 3.1% (Binance Coin) to 6.6% (Terra, an outsider of the day). According to CoinGecko, the total capitalization of the crypto market sank by 0.5%, to $1.73 trillion. Bitcoin showed positive dynamics all day against the backdrop of growing stock indices. Up until the Fed meeting, the first cryptocurrency was gaining over 6%, hitting 5-day highs above $38,800. However, BTC began to fall almost immediately after the announcement of the results of the Fed's two-day meeting.

The regulator announced a curtailment of bond purchases in early March, as well as an imminent rate hike, followed by a reduction in the Fed's balance sheet. The fall of bitcoin accelerated along with stock indices in half an hour when the head of the Fed, Jerome Powell, started his press conference. He noted that rising inflation could force the regulator to raise interest rates more aggressively.The first cryptocurrency may finally complete its upward correction if risky assets resume and intensify the fall after the Fed meeting. 

In Russia, buyers are now engaged in the withdrawal of capital and deprive the country's economy of financing, as announced by the Bank of Russia. Last week, the regulator proposed to ban the circulation and mining of cryptocurrencies in the territory of the Russian Federation. The State Duma and the Ministry of Finance, on the contrary, are in favour of regulation, not a ban on the industry. Russian President Vladimir Putin on Wednesday urged the government and the Central Bank to come to a consensus on the regulation of cryptocurrencies.

Meanwhile, Turkish President Erdogan instructed the ruling party to study the impact of cryptocurrencies on the economy. At the same time, the US Internal Revenue Service said that non-fungible tokens (NFTs) are used for illegal activities, and celebrities are spreading this by promoting NFTs.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 80% 42 $70 223.87 0.77% 5.77% $1 381 109 487 550 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 72.4% 50 $3 561.28 0.86% 0.96% $427 605 471 744 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.2% 1 $1.000075 0.04% 0.01% $104 512 208 692 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 63.2% 81 $611.56 4.56% 6.56% $91 450 116 665 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 56.4% 88 $186.31 1.37% 3.80% $82 797 246 652 SOL 7 days price change
6 XRP (XRP) XRP XRP predictions 83.2% 28 $0.617884 1.08% -2.65% $33 912 091 915 XRP 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 95.2% 2 $1.000084 0% 0% $32 477 074 684 USDC 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 64.8% 66 $0.214389 9.02% 36.62% $30 799 433 262 DOGE 7 days price change
9 Cardano (ADA) ADA Cardano predictions 68.4% 66 $0.646075 0.53% 1.15% $22 989 525 617 ADA 7 days price change
10 Avalanche (AVAX) AVAX Avalanche predictions 60.8% 87 $53.98 -0.20% -3.17% $20 374 483 993 AVAX 7 days price change
11 SHIBA INU (SHIB) SHIB SHIBA INU predictions 58% 94 $0.000031 1.75% 11.14% $18 197 655 004 SHIB 7 days price change
12 Toncoin (TON) TON Toncoin predictions 56.8% 87 $4.88 1.10% 14.56% $16 949 497 215 TON 7 days price change
13 Polkadot (DOT) DOT Polkadot predictions 74.4% 49 $9.60 1.55% 3.06% $13 704 230 052 DOT 7 days price change
14 Bitcoin Cash (BCH) BCH Bitcoin Cash predictions 72% 60 $572.85 6.51% 37.82% $11 275 011 429 BCH 7 days price change
15 Chainlink (LINK) LINK Chainlink predictions 78.4% 42 $19.00 -1.37% 3.10% $11 156 784 818 LINK 7 days price change

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