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HomeAltcoinsBitcoin tanks below $37,000, other coins also followed the drop

Bitcoin tanks below $37,000, other coins also followed the drop

Cryptocurrency values have plummeted today, with Bitcoin plunging below $37,000 amid rising tensions between Russia and Ukraine. The world’s most valuable and widely used cryptocurrency fell 6.43 percent to $36,693.28. Bitcoin is currently down approximately 19% year-to-date (YTD) in 2022, but it is still over 46% away from it’s all-time high of nearly $69,000 set in November 2021.

Ether lost 7% and fell to $2,533.46. Meanwhile, Dogecoin’s price plummeted by nearly 7% to $0.12, while Shiba Inu’s price dropped by 8% to $0.000024. Other coins’ performance suffered as well, with values for Solana, XRP, Terra, Avalanche, Stellar, Cardano, Polygon, and Polkadot falling by 5-12 percent.

The worldwide cryptocurrency market capitalization stayed below $2 trillion today, down over 3% to $1.77 trillion, pulled down by today’s drop in crypto prices.

Since reaching all-time highs in early November, cryptocurrency values have plummeted. Investors recalibrating their portfolios to account for a more aggressive Fed, which is now forecast to hike rates as many as seven times this year as it fights growing inflation, has caused the recent volatility.

Reporter of cryptoshrypto
Kunal is an investment space writer who firmly believes investment is something which should not be a choice but a part of everyone's life.
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