Bitcoin fell sharply below 37000 despite steadily growing yesterday

Bitcoin fell sharply below $37,000 despite steadily growing yesterday

The Bitcoin exchange rate unexpectedly fell below $37,000 today. The cost of one unit of the world’s most popular cryptocurrency fell to $36,639 but later recovered slightly and was $37,133 per coin at the time of this writing.

    Image source: Pixabay

Image source: Pixabay

In the last 24 hours, bitcoin has lost more than 5% in price, and more than 19% since the beginning of the year. At the same time, the cryptocurrency’s capitalization volume dropped to about $701 billion Today was not a very successful day for some other popular cryptocurrencies. For example, in the last 24 hours, the price of Ethereum has fallen to $2,730 per unit, indicating a 3.67% loss. At the time of writing this article, they were giving $2748 for an “Ether”.

The situation is similar for other cryptocurrencies. XPR lost about 3% per day ($0.59 per unit), Solana fell more than 2.8% ($85.13 per unit) and Terra – 3.8% ($80.89 per unit). The cost of popular meme cryptocurrency Dogecoin fell 2.49% to $0.12 per coin.

    Image source: Coindesk

Image source: Coindesk

Note that Bitcoin price showed steady growth yesterday amid news that the US Federal Reserve decided to raise interest rates by 0.5%. The last time interest rates rose that much was about 20 years ago. As a result, bitcoin price slightly jumped above $40,000 per unit, but after that it gradually started to decline.

About the author

Robbie Elmers

Robbie Elmers is a staff writer for Tech News Space, covering software, applications and services.

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