Cryptocurrency sags on geopolitical risks

Posted 21 February, 2022

The main cryptocurrencies fall significantly on Monday, and bitcoin fell below the psychological mark of $40,000 amid growing geopolitical risks in Eastern Europe.

In addition, investors are waiting for the start of a round of rate hikes by the US Federal Reserve. As predicted, the Fed can now increase the rate at each meeting, which is held every 1.5 months.

Reacting to all these factors, the dollar exchange rate per day, according to Forex Club, fell by 4.4% - to $38,410 with a capitalization of $728.3 billion. Ethereum fell 2.3% to $2,661 with a capitalization of $318.6 billion. XRP fell in price by 5.8% to $0.7847, its capitalization amounted to $37.6 billion. Litecoin weakened by 4.2% to $110.7 with a capitalization of $7.7 billion.

The total capitalization of the crypto market has reached $1.75 trillion.

In the near future, if all risks persist, the market may continue its decline. Bitcoin could now go to $35,000, Ethereum risks dropping to $2,500, XRP to $0.75, and Litecoin to $100.

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21 February, 2022 10:22

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