Bitcoin and ether was even trading slightly higher than the Global on Thursday evening cryptocurrency The market cap fell 0.5% to $818 billion as of 7:52 p.m
| coin | 24 hours | 7 days | Price |
|---|---|---|---|
| Bitcoin BTC/USD | 0.1% | 1.4% | $16,867.08 |
| ether ETH/USD | 0.1% | 4.5% | $1,255.19 |
| Dogecoins DOGE/USD | -1.6% | 1.2% | $0.07 |
| cryptocurrency | 24-hour % change (+/-) | Price |
|---|---|---|
| helium (HNT) | +8.7% | $1.82 |
| Kawa (kava) | +5.9% | $0.7 |
| chilli (CHF) | +5.6% | $0.11 |
See also: Where to buy cryptocurrency?
Why it matters: Major cryptocurrencies were relatively firm despite the jitters seen in other risky assets during intraday trading. The S&P 500 and Nasdaq closed down 1.2% and 1.5%, respectively, on Thursday. US stock futures were slowly rising at the time of writing.
cryptocurrency trader Justin Bennett said that Bitcoin is doing well compared to the S&P 500 Index. He said Bitcoin “bulls need to take out $16,900. That’s the key to $17,300.”
On Thursday the President of the Federal Reserve of Kansas City Esther George said they believe the Federal Reserve should raise rates above 5% and leave them there until there is clear evidence that inflation is headed for a decline.
“Bitcoin is little changed despite a risk-free session on Wall Street. The Fed may need to hike more and that doesn’t appear to be sending crypto lower,” he said Edward Moyaa senior market analyst at OANDA.
Moya also noted that shares in a crypto-focused bank Silvergate Capital Corp crashed on Thursday. “The bank was forced to liquidate assets at a loss to cover $8.1 billion in withdrawals,” the analyst said.
In the meantimeGenesis tradea subsidiary of Digital currency group (DCG), which also owns Grayscale, has announced this 30% reduction in workforce. The company has already frozen repayments for all customers.
Investors will be wary…
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