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Last week, the bitcoin rate fell by 3.6%, ending the week with about $ 29,900. Ethereum lost 5.8%, while altcoins from the top 10 lost between 5.4% (XRP) and 9.2% (Cardano). The exception was Binance Coin, which added + 3.3%.
If we talk about last week, then according to CoinGecko, the total capitalization of the crypto market has not changed much, fluctuating around $ 1.29 trillion.
Against the background of the sale in the stock markets, bitcoin declined for seven consecutive weeks, trading no higher than the level of 30 thousand dollars. True, last weekend we observed purchases from retail investors, and this allowed us to recover from Friday’s losses.
This week began with a significantly uptrend that raised the price of BTC to $30,500, followed by the altcoin market. Thanks to this, the market capitalization of the crypto market increased by 3.4% to $ 1.37 trillion.
Meanwhile, Galaxy Digital CEO Mike Novogratz believes that due to the US Federal Reserve’s policy and the bearish trend, the altcoin market will collapse by 70%.
One of the creators of Dogecoin, Billy Marcus, spoke even more vividly about the crypto market, saying that the cryptocurrency market is a mixture of unhealthy optimism, FOMO, panic, fraud, gambling and widespread stupidity.
The head of the ECB, Christine Lagarde, in turn, said that unlike the digital currencies of the central bank, cryptocurrencies have no value and are not based on anything.
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