The value of the total crypto market shrank by more than 12 percent in the past 24 hours, reports the website Coinmarketcap† The site uses the prices of bitcoin exchanges worldwide to calculate a weighted average.
All cryptos in the world are now worth about 1.4 trillion (thousand billion) dollars, converted more than 1.3 trillion euros. In November last year, when bitcoin hit its all-time high of about $68,000, the total crypto market was worth about $3 trillion. according to data from CoinGecko† This is just such a site as Coinmarketcap.
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At the time of publication of this article, a bitcoin is now worth just over $30,000, almost the lowest level in more than a year. The last time the major crypto currency hovered around this price, was on July 20 of last year.
Fairs also in the min
And not only bitcoin is currently in the negative. Of the ten most valuable cryptos, no fewer than seven have been significantly in the negative over the past seven days. Some of these major cryptos lost up to 36 percent of their value during that period.
The losses in the crypto market come after large price falls on stock exchanges worldwide, the American Dow Jones and Nasdaq leading the way. And that followed the announcement by the Federal Reserve, the US central bank, that interest rates will be raised three times this year. A higher interest rate means less return for investors on their shares. In addition, investors are concerned about persistently high inflation worldwide and the consequences of the war in Ukraine.
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