After the furor over the Fed announcement, Bitcoin and the main altcoins recorded significant declines on May 5

It seems that the joy that many felt came to an end today, given that the Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. registered losses for this May 5 that exceeded USD $3,000 per unit, and this fall has also been felt among the main exponents of the sector at the time of publishing.

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While everything that goes up has to come down, unfortunately for this May 5 the price of Bitcoin and the main cryptocurrencies again goes down, this after the furor and the good expectations that generated the measures implemented by the US Federal Reserve (FED) yesterday, in which it announced a half-percentage point increase in interest rates, in addition to further limiting asset and bond purchases.

Bitcoin y Ethereum a decentralized open-source blockchain with smart contracts functionality. resent this May 5th

Revisando la evolución vista en el precio de Bitcoin ( BTC ), we have that at the time of editing is quoted at about USD $36.155 per unit, a figure that represents a fall of 9.36% in the last 24 hours, which could be said had its beginnings from the early hours of the morning just coinciding with the opening of many markets in the Latin American continent. At this hour, it could be said that the losses already exceed USD $3,000 from yesterday’s highs.

Something similar also happened with Ethereum ( ETH ), the second digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency currency is a medium of exchange that defines value. with the second largest market capitalization, which experienced a very similar evolution to Bitcoin and went down by the time the markets opened on the American continent. It is worth noting that at the time of editing the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. is trading at about USD $2,718 per unit, with losses of 7.88% in the last 24 hours.

The effect spreads to the rest of the market an area or arena, online or offline, in which commercial dealings are conducted.

What happened also made its weight felt far beyond Bitcoin y Ethereum, as almost all of the major cryptocurrencies went down for this May 5 with steep declines.

In this sense, the cases of currencies such as the following stand out BNB , XRP Solana ( SOL ), Terra ( LUNA ), Cardano ( ADA ), Shiba Inu ( SHIB ), Polygon ( MATIC ), NEAR and many others, all of which recorded losses of between 6% and 9% on the day. However, currencies such as Avalanche ( AVAX ) y Polkadot ( DOT ) went even lower, as declines exceeded the 10% threshold in the last 24 hours.

The effect after the FED announcement

As many of you know, yesterday, the president of the National Assembly of the FED, Jerome Powell, who shared with the attendees information about the new measures that the agency would take to address a place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. the growing inflationary margin affecting the U.S. economy.

In this sense, Powell announced an increase of half a percentage point to interest rates, information that did not generate surprise within the most traditional sectors, since in previous opportunities the president of the U.S. Federal Reserve has announced an increase of half a percentage point to interest rates. SEC I had entertained the idea that this was a possibility.

The ones that did react favorably were the prices ofBitcoin, Ethereum and a good part of the main altcoins, which went up in the hours after Powell’s announcement. In the case of BTC, was very close refers to the closing price; similar to the same term used in stock trading. to the barrier of USD $40,000 per unit, while ETH was also near USD $3,000 at its peak.

But, as we have seen today, all currencies returned to the downside for this May 5, falling more sharply than they had risen after the announcement.

• Bitcoin and Ethereum prices rise sharply on Fed’s announcement of new interest rate hike

Top losers for this May 5

As of press time, the currencies with the most pronounced downward fluctuations at this hour are as follows:

???? Losing Cryptocurrencies:$GMT STEPN -19,6% (USD $2,66)$APE ApeCoin -17.64% (USD $13.33)$FTM Fantom -12,93% (USD $0,72)$NEAR NEAR Protocol the set of rules that define interactions on a network, usually involving consensus, transaction validation, and network participation on a blockchain. -12,17% (USD $11,03)$NEXO Nexus -11.62% (USD $1.97)

https://t.co/HsIx58BGZC

— Diario฿itcoin (@DiarioBitcoin) May 5, 2022

The most important news of the day

We understand that this is a complex and especially sensitive time in the cryptocurrency market, but if you are one of the people who see opportunities with the current prices, we remind you that our section CryptoMarkets buttons are now available for you to buy your favorite digital currencies.

If you wish to purchase Bitcoin ( BTC ), prefer to buy Ethereum ( ETH ) or want to get someTether ( USDT ), all you have to do is access our website CryptoMarkets and click on the currency of interest. In addition to viewing its price, evolution and other market data, you will also find a buy button that will take you to a exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. reputable in which to do business.

We recommend everyone to be very attentive as this possibility will be added soon for a greater number of digital currencies.

Source: CryptoMarkets , CoinMarketCap

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