The cryptocurrency market capitalization has fallen below $1 trillion. This was caused by the drop in the bitcoin rate to $19 thousand, which, in turn, was caused by the strengthening of the US dollar due to the aggressive policy of the Federal Reserve System.
The US Federal Reserve policy has put pressure on all risk assets, which includes cryptocurrencies, notes CNBC.
Experts interviewed by the TV channel also pointed out a connection between stocks and cryptocurrencies: if one gets cheaper, others get cheaper too. Investors tend to avoid investing in risky assets and keep money in a safe place, such as currency, experts said.
The current bitcoin exchange rate fell below $19,000 for the first time since June 18. The fall of the main cryptocurrency led to a decrease in the capitalization of the entire cryptocurrency market below one trillion dollars.
Over the year, the cryptocurrency market capitalization has shrunk more than twice. At the end of August 201, the market was valued at $2.06 trillion.
Author:
Kirill Bilyk
Source: RB
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