• Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA
Saturday, January 28, 2023
WongaNews.com
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
WongaNews.com
No Result
View All Result

Bitcoin Takes Hit after Powell Says U.S. Central Bank May Well Keep Raising Interest Rates – Blockchain News, Opinion, TV and Jobs

August 30, 2022
in Blockchain
Reading Time: 2 mins read
A A
ShareShareShareShareShare

Related articles

Arizona State Senator Wendy Rogers Proposes Bills to Make Bitcoin Legal Tender

January 28, 2023

THORChain Price Prediction: RUNE Bulls Eye A 21% Increase To $2.29

January 28, 2023

The the biggest cryptocurrency by market cap, has been battered this year following a huge market sell-off and the soaring global economy. Now trading at a price 70% lower than its November 2021 all-time high of $69,044.77.

Ethereum, the second biggest digital asset followed suit, trading at around $1,584,82 at this time of writing.

The US Fed has been raising interest rates multiple times this year in order curb inflation, which currently is at a four-decade high.

The Federal Reserve Bank of Kansas City hosted dozens of central bankers, policymakers, academics and economists at its annual economic policy symposium in Jackson Hole, held to reassess the constraints on the economy and policy. 

Powell, who spoke there on Thursday, said he would keep his remarks short and his focus narrower, “There will very likely be some softening of labor market conditions. While higher interest rates, slower growth, and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses. These are the unfortunate costs of reducing inflation. But a failure to restore price stability would mean far greater pain.”

The global stock markets reacted sharply to the announcement, but the impact was more pronounced in the crypto market. Solana and Avalanche, other major cryptocurrencies, were also down 13 and 20 per cent in the last seven days.

The market dominance of Bitcoin has however stayed rather constant. It continues to hold over 39 percent share in the total crypto market, while Ethereum holds nearly 19 percent of the total market share.

Credit: Source link

ShareTweetSendPinShare
Previous Post

InfinitySwap and DSCVR Sign a Partnership Agreement

Next Post

Myria’s Game-Focused Blockchain Platform Goes Live

Related Posts

Arizona State Senator Wendy Rogers Proposes Bills to Make Bitcoin Legal Tender

January 28, 2023

The person who is principally responsible for the introduction of various legislation relating to cryptocurrencies is Senator Wendy Rogers of...

THORChain Price Prediction: RUNE Bulls Eye A 21% Increase To $2.29

January 28, 2023

Join Our Telegram channel to stay up to date on breaking news coverage While THORChain (RUNE) started the year with...

SEC Probes Investment Advisers Offering Crypto Custody Without Proper Qualification

January 28, 2023

The United States Securities and Exchange Commission (SEC) has begun an investigation into traditional financial advisors on Wall Street to...

Argo Blockchain IPO: Lawsuit Claims Miner Made Untrue Statements

January 28, 2023

During the selling phase of the initial public offering (IPO), which took place in 2021, investors in the cryptocurrency mining...

Why MATIC Price Rally Is Stopping at Nothing, Armed with More Transactions Than Ethereum

January 28, 2023

Join Our Telegram channel to stay up to date on breaking news coverage The value of MATIC, the native token...

Load More
Next Post

Myria’s Game-Focused Blockchain Platform Goes Live

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Flow Price Prediction 2023: Is Flow Going To Show A Price Uptick in 2023?

January 15, 2023

Canada Cracking Down On Bitcoin Mining – Bitcoin Magazine

January 4, 2023

SEC charges Gemini, Genesis over Earn program; Winklevoss responds

January 12, 2023

About Us

Wonga News is an online news portal that aims to provide the latest crypto news, blockchain, regulations, and much more stuff like that around the world. We promise to share only high quality content from the world's best crypto sources. Feel free to get in touch with us!

What’s New Here!

  • L’Dezen Shines With NFT Fashion Accessories
  • Meta Masters Guild Raises Over $1.5 Million During Presale with Just Days Left Before 23% Price Rise
  • How crypto turned Portugal into a promised land for entrepreneurs

Newsletter

Loading
  • Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 WongaNews.com - All Rights Reserved!

No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading

© 2022 - WongaNews.com - All Rights Reserved!

  • bitcoinBitcoin(BTC)$22,992.00-0.61%
  • ethereumEthereum(ETH)$1,574.33-1.18%
  • USDEXUSDEX(USDEX)$1.07-0.47%
  • tetherTether(USDT)$1.000.04%
  • usd-coinUSD Coin(USDC)$1.00-0.01%
  • binancecoinBNB(BNB)$305.72-0.44%
  • rippleXRP(XRP)$0.409895-0.18%
  • binance-usdBinance USD(BUSD)$1.000.01%
  • cardanoCardano(ADA)$0.3833250.33%
  • dogecoinDogecoin(DOGE)$0.0883751.84%
  • matic-networkPolygon(MATIC)$1.14-3.26%
  • okbOKB(OKB)$38.827.23%
  • solanaSolana(SOL)$24.04-1.19%
  • staked-etherLido Staked Ether(STETH)$1,571.10-1.16%
  • polkadotPolkadot(DOT)$6.41-1.00%
  • shiba-inuShiba Inu(SHIB)$0.0000121.29%
  • avalanche-2Avalanche(AVAX)$20.8011.77%
  • litecoinLitecoin(LTC)$87.95-0.32%
  • tronTRON(TRX)$0.063210-0.49%
  • daiDai(DAI)$1.00-0.15%
  • uniswapUniswap(UNI)$6.65-1.56%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$22,958.00-0.48%
  • cosmosCosmos Hub(ATOM)$13.271.06%
  • ToncoinToncoin(TON)$2.522.51%
  • chainlinkChainlink(LINK)$7.22-1.22%
  • leo-tokenLEO Token(LEO)$3.73-2.81%
  • moneroMonero(XMR)$182.642.92%
  • ethereum-classicEthereum Classic(ETC)$21.70-0.82%
  • AptosAptos(APT)$17.68-1.98%
  • bitcoin-cashBitcoin Cash(BCH)$132.96-1.96%
  • Aerarium FiAerarium Fi(AERA)$7.12-13.06%
  • stellarStellar(XLM)$0.092455-0.28%
  • apecoinApeCoin(APE)$6.02-3.69%
  • quant-networkQuant(QNT)$148.44-2.25%
  • nearNEAR Protocol(NEAR)$2.46-1.96%
  • crypto-com-chainCronos(CRO)$0.080808-0.43%
  • filecoinFilecoin(FIL)$5.28-1.79%
  • lido-daoLido DAO(LDO)$2.26-4.64%
  • algorandAlgorand(ALGO)$0.2557780.62%
  • vechainVeChain(VET)$0.023975-2.13%
  • hedera-hashgraphHedera(HBAR)$0.067619-2.27%
  • internet-computerInternet Computer(ICP)$5.92-4.05%
  • decentralandDecentraland(MANA)$0.714.31%
  • axie-infinityAxie Infinity(AXS)$11.38-0.95%
  • aaveAave(AAVE)$84.09-4.07%
  • eosEOS(EOS)$1.09-1.99%
  • the-sandboxThe Sandbox(SAND)$0.74-0.41%
  • fantomFantom(FTM)$0.448196-5.55%
  • elrond-erd-2MultiversX(EGLD)$44.47-0.64%
  • flowFlow(FLOW)$1.06-2.74%