{"id":4060,"date":"2022-01-07T01:58:42","date_gmt":"2022-01-07T01:58:42","guid":{"rendered":"http:\/\/egrowonline.com\/?p=4060"},"modified":"2022-01-07T01:58:42","modified_gmt":"2022-01-07T01:58:42","slug":"why-bitcoin-crypto-token-values-dropped-quick","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=4060","title":{"rendered":"Why bitcoin, crypto token values dropped quick"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p id=\"qanRW6\">Multiple <a target=\"_blank\" href=\"https:\/\/www.deseret.com\/2021\/11\/1\/22757898\/future-stable-coins-congress-cryptocurrency-regulators-rules\" rel=\"noopener\">cryptocurrencies<\/a> \u2014 including Bitcoin \u2014 dropped sharply Thursday as global stocks continued to fall, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2022\/01\/06\/bitcoin-btc-slides-cryptocurrencies-drop-on-hawkish-fed-minutes.html\" rel=\"noopener\">CNBC<\/a> reports.<\/p>\n<p id=\"Vi945P\"><a target=\"_blank\" href=\"https:\/\/www.deseret.com\/2021\/12\/21\/22848631\/will-bitcoin-replace-us-dollar-jack-dorsey-web-3\" rel=\"noopener\">Bitcoin<\/a> \u2014 which was worth $43,058.75 on Thursday morning \u2014 dropped as low as $42,496 in the last 24 hours, according to <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2022\/01\/06\/bitcoin-btc-slides-cryptocurrencies-drop-on-hawkish-fed-minutes.html\" rel=\"noopener\">CNBC.<\/a><\/p>\n<ul>\n<li id=\"n0jjWr\">Similarly, Ethereum dropped 12% to $3,411.92.<\/li>\n<li id=\"KwkRM1\">The cryptocurrency Solana fell 12% to $148.58.<\/li>\n<\/ul>\n<aside id=\"g5Eo4b\">\n<\/aside>\n<p id=\"KjEFny\">The <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/bitcoin-ether-prices-fall-along-with-tech-stocks-11641471483\" rel=\"noopener\">decline in cryptocurrency coins comes as the Federal Reserve<\/a> showed officials are seeing a potential quick rise in interest rates for 2022, according to <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/bitcoin-ether-prices-fall-along-with-tech-stocks-11641471483\" rel=\"noopener\">The Wall Street Journal.<\/a><\/p>\n<ul>\n<li id=\"4GO69L\">\u201cAs rates rise, holding volatile investments that produce little income becomes less attractive compared with government bonds,\u201d <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/bitcoin-ether-prices-fall-along-with-tech-stocks-11641471483\" rel=\"noopener\">WSJ<\/a> reports.<\/li>\n<\/ul>\n<p id=\"wvUtcf\">Experts said the fast falloff is a sign that cryptocurrencies are risky investments for most people, per <a target=\"_blank\" href=\"https:\/\/www.marketwatch.com\/story\/im-not-nervous-in-the-medium-term-but-were-going-to-have-a-lot-of-volatility-says-crypto-bull-novogratz-as-bitcoin-adds-to-fed-fueled-tumble-11641480081\" rel=\"noopener\">MarketWatch.<\/a><\/p>\n<ul>\n<li id=\"IrpWzG\">\u201cThis is proof that bitcoin acts like a risk asset,\u201d <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/bitcoin-ether-prices-fall-along-with-tech-stocks-11641471483\" rel=\"noopener\">Noelle Acheson<\/a>, head of market insights at crypto lender Genesis Global Trading, told <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/bitcoin-ether-prices-fall-along-with-tech-stocks-11641471483\" rel=\"noopener\">The Wall Street Journal.<\/a> \u201cThe short-term holders, they are the ones who are trading and will be closest to the exit.\u201d<\/li>\n<\/ul>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.deseret.com\/2022\/1\/6\/22870278\/bitcoin-cryptocurrency-values-drop-quick\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Multiple cryptocurrencies \u2014 including Bitcoin \u2014 dropped sharply Thursday as global stocks continued to fall, CNBC reports. Bitcoin \u2014 which was worth $43,058.75 on Thursday morning \u2014 dropped as low as $42,496 in the last 24 hours, according to CNBC. Similarly, Ethereum dropped 12% to $3,411.92. The cryptocurrency Solana fell 12% to $148.58. The decline [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4061,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[36],"tags":[50,62,3196,3197,452,2863],"class_list":["post-4060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-crypto","tag-dropped","tag-quick","tag-token","tag-values"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/01\/Dogecoin_1_Red_Website_Illustration.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/4060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4060"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/4060\/revisions"}],"predecessor-version":[{"id":4062,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/4060\/revisions\/4062"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/4061"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4060"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}