Bitcoin
BTC$57 125.03

1.84%

Ethereum
ETH$3 256.32

1.07%

Tether
USDT$1.000514

0.03%

Binance Coin
BNB$398.06

-0.14%

Solana
SOL$108.72

-1.46%

XRP
XRP$0.578854

4.33%

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 63.2% 77 $57 125.03 1.84% 10.16% $1 121 917 971 187 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 64.4% 80 $3 256.32 1.07% 9.26% $391 249 577 993 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.4% 1 $1.000514 0.03% 0.05% $98 441 517 000 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 67.2% 70 $398.06 -0.14% 12.35% $59 527 517 481 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 79.6% 40 $108.72 -1.46% 2.19% $48 108 110 616 SOL 7 days price change
6 XRP (XRP) XRP XRP predictions 82.8% 29 $0.578854 4.33% 4.70% $31 602 076 437 XRP 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 92% 1 $0.999964 0.01% 0% $28 534 837 343 USDC 7 days price change
8 Cardano (ADA) ADA Cardano predictions 69.2% 66 $0.620017 -0.62% 2.74% $21 995 107 432 ADA 7 days price change
9 Avalanche (AVAX) AVAX Avalanche predictions 76% 52 $39.33 -0.13% 4.39% $14 836 058 547 AVAX 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 80.8% 27 $0.095642 5.26% 12.56% $13 701 198 520 DOGE 7 days price change
11 TRON (TRX) TRX TRON predictions 67.2% 63 $0.143274 1.71% 2.21% $12 607 201 135 TRX 7 days price change
12 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 71.6% 61 $0.143060 1.86% 2.23% $12 588 400 022 WTRX 7 days price change
13 Chainlink (LINK) LINK Chainlink predictions 76.8% 43 $18.98 -0.62% 0.27% $11 141 726 258 LINK 7 days price change
14 Polkadot (DOT) DOT Polkadot predictions 71.2% 51 $8.26 1.56% 10.00% $10 609 272 807 DOT 7 days price change
15 Lido stETH (STETH) STETH Lido stETH predictions 92.4% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change

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