Bitcoin has dropped to $28,000 and Ether is flat
Bitcoin dropped to $28,000 during the Asian trading session. Dogecoin was the biggest loser.
The move comes amid rising concerns about the future of the U.S. economic system. Coinbase, America’s largest crypto exchange, revealed its plans to relocate after US regulatory confusion about cryptocurrencies. Asian markets experienced mixed trade after Wall Street’s Thursday session. US equity futures fell, probably due to fears of an upcoming recession and possible interest rate hikes.
Ether, the most volatile token, was the only one to have gained in the past 24 hours. It was trading at $1.952, up by 0.17%. The token has lost 7.15 % in the past seven days. Ethereum Name Services is a digital identification protocol that has partnered with crypto payment platform Moonpay.
Dogecoin, the top loser in this week’s market, fell 7.64% from $0.08447 to $0.08447. This represents a 4.56% loss for the entire week.
Cryptocurrencies are likely to face volatility in the U.S.A. and E.U. Economic growth and higher interest rates. Investor sentiment will be affected by the slowdown in both economies, and this could worsen investor risk appetite.
Coinbase recently announced that it has obtained a licence…