The cryptocurrency market has had a bearish start to 2022 and has extended its negative streak, which has led it to erase 383,604.8 million dollars in market value in a few days.
Until this January 11, the ‘market cap’ of the crypto assets stood at 1,986 trillion dollars from the 2.37 trillion dollars recorded on December 26, 2021. Some of the currencies with the most falls are Solana (-17.45%), followed by Ethereum (-12.14%) and Dogecoin (-11.77%). Bitcoin is the largest asset in the system, with 40.8% of the total market and accumulates a decrease of 13% in 2022.
Specialists of the analysis team e-Toro They explained in a document that the cryptocurrency market is being impacted mainly by the policies of the Federal Reserve (Fed) of the United States and by the social unrest in Kazakhstan.
“The Fed can be expected to tackle inflation by raising interest rates earlier than expected and actively reducing its $ 9 trillion balance sheet. This bomb caused a sell-off for crypto, dragging down Bitcoin as civil unrest in Kazakhstan and weakness in China’s real estate industry added to the uncertainty, ”the report explains.
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Reference-www.eleconomista.com.mx