A.D. As inflation has been rising rapidly since 1981, the Crypto Conflict is gathering steam over the weekend

Bitcoin and other currencies collapsed Sunday over the weekend following asset inflation in the United States following a record high inflation in May.

Bitcoin BTCUSD,
Depreciated by 3% to $ 27,743, Ethereum fell by more than 3.8% to $ 1,494;
More than 5% off, check on Sunday morning on the last day, according to CoinDesk.

24-hour trading currencies are hitting hard on Wall Street, according to Friday’s report. Annual growth is 8.6%, up 8.5% from the 40-year high of March. Dow Jones Industrial Average DJIA,
S&P 500 SPX,
Nasdaq Composition COMP,
It has suffered its biggest weekly loss since January. Dow dropped 880 points on Friday.

Investors are worried that inflation will push harder at the Federal Reserve, which will convene a two-day policy meeting on Tuesday, raising the expected half-percentage point to the federal fund. The policy rate is currently in the range of 0.75% to 1%.

Loss of equity has been felt in risky assets, and crude currencies have fallen on Friday. With more than $ 27,000 on Sunday, Bitcoin has dropped 60% from November 2021. #Cryptocrash and #bitcoincrash are appearing on Twitter.

Read: Shares fall again when market inflation shocks

“From the perspective of the next cycle, we are probably close to the bottom line, but that does not mean that the price could be 50% more volatile,” Bobby Ong, co-founder and CEO of crypto currency monitoring company CoinGecko, warned Sunday. Twitter thread.

“FWIW, I don’t think we are at the bottom because the conferences are still full, the crypto parties are still overcrowded, they are still seeing too much between groups, the macro environment is still weak. The strike has begun but has not yet spread. Be strong and manage your space well, ”he said on Twitter.

At a time when secret currency prices are declining this year, Coinbase Global Inc. Some crypto trading platforms, including COIN,
He recently announced that 10% of jobs would be laid off at crypto exchange, Gemini, layoffs or layoffs.

Read: ‘I’m a sick joke’: They left other job offers for Coinbase and are now unemployed

Crypto prices can be very low, according to some industry observers. That being said, some digital asset bulls have suggested that the current downturn could also be a sign of potential.

Other cryptocurrency observers say Setaoff serves as a reminder of the benefits of diversity.

For some, though, the message is that honest investors should beware of the potential losses for many assets.

Read: ‘The goal is never to look for the top’

And die- The new Crypto Bill could be another incentive for the CFTC to manage digital assets.


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