{"id":223311,"date":"2022-04-12T19:00:08","date_gmt":"2022-04-12T19:00:08","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=223311"},"modified":"2022-04-12T13:27:06","modified_gmt":"2022-04-12T13:27:06","slug":"cryptocurrencies-17","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/cryptocurrencies-17\/","title":{"rendered":"Cryptocurrencies are bleeding amid fears of a larger rate hike"},"content":{"rendered":"<p><strong>London, (Business News Report)||<\/strong> Cryptocurrencies fell sharply, on Tuesday morning, amid fears of a larger interest rate hike from central banks around the world.<\/p>\n<p>Bitcoin fell 5.3% to $39,831.99, down about $2,240 from its previous close.<\/p>\n<p>The most famous digital currency, fell by 17.3% from its highest level this year of $48,234, which it recorded on March 28.<\/p>\n<p>Ether, the second largest digital currency, fell 6.6% to $2,991.51, down $210.86 from its previous closing level.<\/p>\n<p>The decline in cryptocurrencies came amid fears of monetary tightening in the United States, and the move by the US Federal Reserve to raise interest rates.<\/p>\n<p>Virtual currencies do not have a serial number and are not under the control of governments and central banks, like traditional currencies, but are dealt with only over the Internet, without a physical presence of them.<\/p>\n<p>A Reuters poll showed that the Federal Reserve (the US central bank) may raise interest rates by 50 basis points in the May and June meetings, or a total of 100 points, according to what 56 economists out of 102 surveyed by the agency said.<\/p>\n<p>Earlier, the <a href=\"https:\/\/www.google.com\/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=&amp;cad=rja&amp;uact=8&amp;ved=2ahUKEwiq2qeZ0I73AhWFR_EDHbL3B-YQFnoECBAQAQ&amp;url=https%3A%2F%2Fwww.fdic.gov%2F&amp;usg=AOvVaw0esefYzgwTeIHf04wDC9-P\">Federal Deposit Insurance Corporation<\/a> issued a letter asking the agency-supervised institutions to notify the appropriate regional director of their activities with crypto-related assets or their intentions to engage in crypto-related activities.<\/p>\n<p>Russia is considering accepting bitcoin as a way to pay for its oil and gas exports, according to a senior deputy in the Russian parliament (Duma).<\/p>\n<p>Pavel Zavalny said that \u201cfriendly\u201d countries would be allowed to pay in cryptocurrency or their local currencies.<\/p>\n<p>Russian President Vladimir Putin had said earlier that he wanted &#8220;unfriendly&#8221; countries to buy Russian gas in rubles.<\/p>\n<p>Meanwhile, he understood that this step was aimed at strengthening the Russian currency, which has lost more than 20% of its value this year.<\/p>\n<p>The European Union is currently working to urgently enact laws regulating the work of digital currencies, in an attempt by Europeans to prevent Russia from using them to circumvent sanctions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>London, (Business News Report)|| Cryptocurrencies fell sharply, on Tuesday morning, amid fears of a larger interest rate hike from central banks around the world. Bitcoin fell 5.3% to $39,831.99, down about $2,240 from its previous close. The most famous digital currency, fell by 17.3% from its highest level this year of $48,234, which it recorded [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":223312,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[168,3701,278],"class_list":["post-223311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-bitcoin","tag-cryptocurrencies","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cryptocurrencies are bleeding amid fears of a larger rate hike| BNReport<\/title>\n<meta name=\"description\" content=\"BNReport| Cryptocurrencies fell sharply, on Tuesday morning, amid fears of a larger interest rate hike from central banks around the world.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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