Bitcoin and Ethereum decline as eyes turn to US Fed rate decision

www.proactiveinvestors.co.uk

Cryptocurrencies looked set for consecutive red days, as surging inflation and Russia's invasion of Ukraine continued to shake investor confidence and steer them away from riskier assets toward safe havens. In the US, all eyes turned to the Federal Reserve's Wednesday decision on interest rates, which analysts expect to be increased by 0.5 percentage points and therefore make borrowing for consumers harder by further squeezing budgets.

Timeline of Bitcoin, Ethereum


Bitcoin and Ethereum sink just like wider markets - Proactive Investors

Bitcoin and Ethereum fell on Friday, mirroring global markets, following the decisions of the UK and US to hike interest rates again and the Bank of England's expectation that inflation may rise as high as 10% by the year end as a recession looms. Bitcoin fell 7.9% to US$36,446, a similar loss to that of Thursday's, while its biggest rival by market value, Ethereum, eased 6.3% lower to US$2,745.


Bitcoin and Ethereum sink further to 50% of all-time highs - Proactive Investors

Cryptocurrencies were set for their fifth consecutive red day as digital currencies continued to follow in the footsteps of wider markets, especially riskier ones such as technology assets. Bitcoin declined 3.6% to US$33,536 but was slightly outpaced in its fall by its closest rival by market value, Ethereum, which eased 4.2% lower to US$2,451.


Market instability hits bitcoin, while Meta launches NFT support and Gucci accepts crypto - Proactive Investors

eToro's market analyst and crypto expert Simon Peters gives us his weekly crypto and blockchain update, this week focusing on the decline in value of the cryptoasset market. Before we get into Peters' assessment, analyst Josh Gilbert put bitcoin's decline into perspective saying, "Bitcoin had been quite resilient so far in 2022, given the current state of the macro environment - but is now feeling the full effect of the market correction.

BitcoinBTC$29142.830000
EthereumETH$1951.330000

Where next for Bitcoin after the recent slump? - Proactive Investors

Bitcoin so far this year has failed to live up to its status as ‘digital gold', let alone as a safe haven during times of economic uncertainty, and has briefly dipped below US$30,000 for the first time in nearly a year. Currently, the largest coin by market cap is trading at US$32,000, but analysts fear that the coin could continue to plunge further amid the backdrop of global uncertainty.


Bitcoin and Ethereum fall to lowest points in over a year as TerraUSD becomes unpegged - Proactive Investors

Cryptocurrencies took another hammering, with TerraUSD's collapse yesterday causing an “industry-based panic”. Bitcoin nosedived another 14%, changing hands at US$27,039, its lowest level since the end of 2020.


Ethereum lovers should watch out for these levels in the weeks to come - AMBCrypto

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice Data from Santiment showed a dramatic increase in transaction volumes for Ethereum in the past two days. Moreover, the number of addresses at a loss on the Ethereum network reached a new ATH, which was


Colorado-Based Bitcoin Mining Operation Expands Into Texas; Could Consume Enough Power to Light 200,000 Homes - BeInCrypto

Bitcoin mining company, Riot Blockchain, revealed its plans to expand operations to Corsicana, Texas, which could light up to 200,000 homes. The post Colorado-Based Bitcoin Mining Operation Expands Into Texas; Could Consume Enough Power to Light 200,000 Homes appeared first on BeInCrypto.


Bitcoin and Ethereum Will Outperform Stocks As Risk Asset Prices Crash, Says Bloomberg Strategist – Here's Why - The Daily Hodl

Bloomberg Intelligence analyst Mike McGlone says it's the top two cryptocurrencies by market cap that will lead to the most gains after the recent price dip that affected all asset classes. In a new interview with Yahoo Finance, McGlone pinpoints the Federal Reserve's interest rate hikes as being more detrimental to the US stock market The post Bitcoin and Ethereum Will Outperform Stocks As Risk Asset Prices Crash, Says Bloomberg Strategist – Here's Why appeared first on The Daily Hodl.


ETH darlings need to know this before they open a position this bear season - AMBCrypto

Ethereum investors continue to show faith in their loved altcoin even after the recent crash. Despite the macro headwinds, ETH is now ranging above $2,000 repaying the faith of the investors.


Bitcoin Price Prediction for Today, May 14: BTC Retreats After Moving Close to $30,000 Level - Inside Bitcoins

The Bitcoin price prediction increased considerably but despite the rejection, the bullish structure still stays around the $30,000 level. BTC/USD Long-term Trend: Ranging (Daily Chart) [.

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