Bitcoin and Ethereum Prices Tank in Weekly Open Ahead of Fed Interest Rate Decision
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Bitcoin hit its 2022 low, dropping below $19,000.
ETH has dropped below $1,300.
The Federal Reserve is expected to increase interest rates once again.
Despite some positive developments earlier this month, the crypto market is experiencing some moderate bloodletting as bitcoin (BTC) hits its 2022 low. Ethereum has also tanked sharply, even as it has successfully made the switch to proof-of-stake.
Bitcoin has fallen under $19,000 while Ethereum has dropped to under $1,300. The crypto market cap has also fallen below $950 billion, a 6.4% change in the last 24 hours alone. It’s not the positive showings that investors wanted, especially after having patiently endured an ongoing ‘crypto winter’ in 2022.
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