The cryptocurrency industry has grown significantly over the past few weeks, especially Bitcoin (BTC). On Wednesday, interests rates were hiked by the US Federal Reserve, leading to an increased volatility in the BTC price. The result was a dip from $28,000 to $26,000 which was soon reversed and briefly surged to over $29,000. Unfortunately, buy and sell orders decreased over the weekend leaving BTC stuck at $27,000.

In comparison to the top-tier coin, altcoins have remained relatively stable with Ethereum hovering around $1800 and $570 billion market capitalization. In terms of the mid-cap cryptocurrencies, Ripple (XRP) has stood strong with a notable 4% increase and 21% growth in the last seven days to reach over $0.45. ARB has also recovered some of yesterday’s losses, gaining 6.5% to near $1.3. Other altcoins, such as LDO, XMR, MATIC and XLM, have also displayed an upward trajectory of around 3%.

The overall crypto market cap is still around $1.150 trillion, thus creating a stable environment for investors looking to make a profit in the future. Nevertheless, the timing and depth of any possible movement is unknown and could increasingly be affected by external events outside the industry. Despite a minor upswing in XRP it’s uncertain whether a similar effect will happen in other coins but recent events, especially the response to Fed’s decision suggests something could be in the works for BTC. In conclusion, only time will tell whether investors will be able to capitalize on this crypto renaissance.



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