Bitcoin and Ethereum Price Prediction: Will The Triple Bottom Of $22,350 Trigger A Bullish Bounce In BTC?
Bitcoin rose today, but it decreased steadily. Today’s values are only marginally better than the all-time low hit on Wednesday, when bitcoin dropped by as much as 4.5%. Ethereum also fell with a value lower than yesterday’s high; this decline has been caused by inflationary concerns and uncertainty in China's cryptocurrency market.
However, the reason for its continued decline could be attributed to the increasing threats of hacking as the number of digital currencies has expanded.
North Korean hackers have been attacking cryptocurrency exchanges and utilizing phishing schemes to steal digital money for many years. These attacks have become more frequent recently. This was regarded as one of the primary factors contributing to investor confidence and cryptocurrency losses.
In their official statements, Fed governors Joshua Rosner, Lael Brainard, and Randal Quarles described the decline in bitcoin prices as a good thing and insisted that central banks would continue to raise interest rates at a consistent rate. The Fed has hinted that it will soon be more aggressive, which is in line with expectations for crypto. Moreover, it is seen as a key factor in keeping the crypto market low.
The global cryptocurrency marker has failed to prolong its previous upward rally and lost some of its ground around below $1.05 trillion on the day. The agenda for the next Fed meeting is online and the market reacted quickly on Wednesday to the FED's decision to signal that it will hike rates later this year.
However, the latest upticks in the market started to slow when it became more apparent that after more comments from Federal Reserve Governors, we would be seeing rising interest rates at a quicker pace.
This has had a significant effect on
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