What is Happening in the Crypto Market?
As the weekend approaches, investors are preparing for a stumble in the cryptocurrency market. Over the past 24 hours, many coins and tokens have seen losses, although they were not too drastic. Bitcoin (BTC -8.64%) led the way, dropping by almost 4%, while Ethereum (ETH -7.72%) and Riot Platforms (RIOT -10.61%) were also down by significant amounts.
What Is the Impact of Monetary Policy?
Crypto investors are always keeping an eye on news and announcements from the industry. The minutes from the Federal Reserve’s most recent meeting, released on Wednesday afternoon, have caused some concern. The regulator has raised its key interest rates to the highest level in more than 22 years, which could have an effect on digital currencies. As interest rates rise, investments such as stocks and cryptocurrencies become less attractive.
What is the Impact of the Shiba Inu Launch?
Bad news often comes in bunches, and for cryptocurrency bulls this has been the case recently. The launch of Shiba Inu’s ambitious blockchain platform, which had a high-profile launch on Wednesday afternoon, was marred by glitches and delays reported by users and crypto media.
Eric Volkman holds positions in Bitcoin and Ethereum. The Motley Fool has a disclosure policy.