Why crypto goes down day by day?
- Thread starter Mogambo
- Start date
The crypto market is down today as Bitcoin and altcoins fall with U.S. stocks in a retreat from highs around the CPI print and FOMC moves on inflation.
- Jun 1, 2022
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when bitcoin goes down, other cryptocurrencies also go down. but I think in the near future bitcoin will go up again. approximately I think after the 10th of January, bitcoin will rise for a little time.
The crypto market is down today as Bitcoin and altcoins fall with U.S. stocks in a retreat from highs around the CPI print and FOMC moves on inflation. Bitcoin (BTC), Ether (ETH) and other cryptocurrencies have given back their gains despite cooling inflation.
Bitcoin has been falling since May 5th. The day before, the US Federal Reserve raised interest rates by 0.5%. Since 2000, this is the most significant attempt by the Federal Reserve to beat inflation. From June 2022, it also plans to reduce its balance sheet, that is, reduce the amount of money in circulation, by almost $9 trillion.
The March consumer price index, which measures changes in the cost of food, housing, gasoline, utilities and other goods, rose 8.5% compared to last year. This is the biggest spike in US inflation since 1981. The war in Ukraine also contributes to price fluctuations in the market.
The March consumer price index, which measures changes in the cost of food, housing, gasoline, utilities and other goods, rose 8.5% compared to last year. This is the biggest spike in US inflation since 1981. The war in Ukraine also contributes to price fluctuations in the market.
