Compass Investments

Crypto vs. Dollar

📌 Cryptocurrencies fluctuate as BitBot attention grows

Cryptocurrency prices have fallen significantly over the past few weeks. Bitcoin

– Cryptocurrency prices have fallen significantly over the past few weeks.

The collapse came amid an increase in bitcoin supply in anticipation of a rate cut by the Federal Reserve.

BitBot will launch a token sale event on Thursday.

On Wednesday, the price of bitcoin and other cryptocurrencies was still under pressure as investors waited for the next significant catalyst. After rising to 62,000 bitcoin, bitcoin fell to 60,000, causing a reversal among most altcoins. Among the delays were cryptocurrencies such as Blur, Mother Iggy, Turbo and Apu Apustaja.

There are 3 main reasons why cryptocurrencies are retreating. First, this decline is mainly due to the fact that there hasn’t been a significant catalyst for the coin’s growth in recent months. The most important event of the year has already happened.

The US Securities and Exchange Commission (SEC) has already approved Etf bitcoin spot funds, and the halving has already happened. There are signs that the agency will soon approve Etf Ethereum spot.

Secondly, they have fallen due to the ongoing bitcoin sell-off. The German government has gotten rid of a significant amount of bitcoin in the past few days. There are also many exchanges and Mt. Gox has started selling coins. Bitcoin market movements usually affect other altcoins.

Finally, there are signs that the Fed will be one of the last central banks to cut interest rates, as U.S. inflation has remained fairly stable over the past few months.1 The overall Consumer Price Index (CPI) is above 3% and barely close to the Fed’s 2% target.

There are other reasons for the collapse of these coins. Technically speaking, bitcoin is forming a

Bitcoin

Bitcoin

$61,333.66

BTC 2.69%

Ethereum

Ethereum

$3,275.15

ETH 2.74%

Binance Coin

Binance Coin

$547.25

BNB 1.99%

XRP

XRP

$0.53

XRP 1.28%

Dogecoin

Dogecoin

$0.12

DOGE 2.52%

Cardano

Cardano

$0.44

ADA -0.06%

Solana

Solana

$150.70

SOL 3.95%