Cryptocurrency: Bitcoin Falls to US$19,087: Fears of Global Economic Slowdown

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The cryptocurrency market plunges after the US Fed’s 75 basis point interest rate to control the rising inflation rate. Today, September 24, at 18:00 UTC, Bitcoin gained 3.05% intraday and was quoted at $19,087.20. Yesterday, Bitcoin closed at US$19,286. Over the past 5 days, Bitcoin has fallen by 2.46%. Over the past month, it has fallen 10.68%. Moreover, over the past 6 months, Bitcoin has fallen by 56.61%.

Cryptocurrency: Bitcoin Falls to US$19,087: Fears of Global Economic Slowdown

On the other hand, other cryptocurrencies show a mixed trend. Ethereum was listed at $1,336.40, up 0.72%. Yesterday, Ethereum closed at US$1,245.65. Litecoin was listed at $54.83 down 0.72%, Dogecoin was listed at $0.0655 down 3.36%, and Cardano was listed at $0.4611 up 0.20% today. today, until the last transaction.

However, US stock markets are down in response to this. The S&P 500 was down 1.72% to 3,693.23, and the Nasdaq Composite was down 1.80% to 10,867.93, at the time of writing. On the other hand, the US dollar index reached 113.02, up 1.50%, until the last trade.

“Bitcoin was back in the red in Friday’s session as the token once again traded below $19,000. The recent decline comes as the global economic slowdown has become more apparent. This week, the Bank of England and the US Federal Reserve moved to raise interest rates, with the Bank of Japan also intervening in the currency market. Ethereum was also lower on Friday, falling below $1,300,” noted news from bitcoin.com.

  • Cryptocurrency accepts US Fed rate hike of 75 basis points, bitcoin rises 3% during the day
  • Crypto Market Absorbs 75bps Fed Rate Hike, Bitcoin Relives at US$19,029.40
  • Bitcoin continues to fall, quoted at US$18,885 ahead of US Fed meeting
  • Cryptocurrencies see steep drop, Bitcoin dips below $18,400, Ether to $1,327
  • Cryptocurrency continues to fall: Bitcoin slips to $19,690, trading volume plunges
  • Cryptocurrency: Bitcoin falls to US$19,437, US Fed rate hike concerns escalate
  • Cryptocurrency: Ethereum Drops Above 8%, Bitcoin Plunges Above 2% Today: Merger News
  • Bitcoin plunges to $20,030, ether quoted at $1,588 pre-merger
  • Bitcoin drops sharply by 7.40% to US$20,745: US inflation higher than expected
  • Bitcoin regains momentum at US$22,338, Ether up to US$1,726
  • The risk and rewards of crypto gambling
  • Bitcoin bounces back to US$18,991, after falling sharply yesterday due to a strong US dollar index

Article first published: Saturday, September 24, 2022, 11:39 p.m. [IST]

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