Urgent: Bitcoin is back, panic has dissipated, and the bloodbath has passed in the market

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College student 🎓🎓 and assistant cryptocurrency analyst 📊📈

2 years ago

The cryptocurrency market led by Bitcoin appears to be consolidating at current levels which are the lowest in several months.

By last Saturday, the index of fear and greed in the crypto market had recorded its lowest level since last May, after descending to the levels of 10 points.

Urgent sudden rise and important data

Panic dissipates

According to the latest update of the Crypto Fear & Greed Index, which measures the psychology of dealers in the cryptocurrency market, the index has recorded a significant improvement.

The index reading rose from the 10-point levels to 23 points, according to the latest reading, indicating that traders are on their way to getting rid of the state of intense fear that is still dominant, but it has retreated from the low levels of Saturday and Sunday.

Cryptocurrency prices varied today, Monday, January 10, 2022, and Bitcoin began making slight gains after a week of sharp decline.

And "Bitcoin", the most famous digital currency in the world, reduced its losses to about 10.77%, after it exceeded 11% during the last 7 days of trading, while Ethereum lost more than 16% of its value during the same period.

While Chainlink reached its huge jump in the last 7 days, a gain of close to 30% of its value.

The rise in US bond yields led to investors losing appetite for high-risk assets, amid global anticipation of inflation rates and the start of central banks to tighten monetary policies.

Cryptocurrency prices today.. Bitcoin is looking for the highest peaks in 2022

The market value of cryptocurrencies rose today, Monday, by 1.05% to reach $1.98 trillion, with a volume of traded during the last 24 hours, which recorded about $109.70 billion.

Although Bitcoin received the year 2022 with strong losses, amounting to 42,028 thousand dollars, its lowest value since last September, financial market experts expect a record jump in the price of the most famous digital currency in the world to reach 60 thousand dollars during 2022, Some have even exaggerated the increase in the price of Bitcoin, and it is likely that its price will reach $ 100,000 by the end of this year

The price of Bitcoin increased by about 60% over the past year to outperform other financial assets, amid reports about its importance in resisting inflation and its role in diversifying investments and adopting financial institutions for it, but it has faced problems in recent weeks in light of the turmoil of financial markets.

The Federal Reserve (the US central) has tended during the recent period to increase interest rates and reduce stimulus packages in the context of a global policy of tightening monetary policies, which made investors refrain from high-risk assets, especially after the recent rise in US bond yields.

The US Federal Reserve member stated that the first increase in the interest rate may be in the month of March, while the subsequent increases in 2022 will depend on inflation developments in the United States.

As for the impact of the “Omicron” mutant on the economy, Pollard said that the infections are expected to follow a similar pattern to those in South Africa - the birthplace of the mutant for the first time - noting that the numbers are expected to reach a peak in late January, but it will not change the course of all cases. From the US economy or the Federal Reserve.

The minutes of the last meeting of the Federal Reserve showed the desire of some members to accelerate the pace of raising the interest rate this year, in an effort to control inflation and with the recovery of the economy and the labor market.

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