Bitcoin reversed its losses, to gain 7 percent:
As the US Federal Reserve hiked the rates, Bitcoin reversed its losses, to gain 7 percent. The Rate Hike by the Federal Reserve had a low influence on the market. On Sunday Ethereum topped the Three thousand and one hundred dollar mark while Bitcoin went over and above forty-four thousand and six hundred dollar mark. And the other altcoins were trading at average and decent gains.
As the digital currency is very volatile the decrease or increase in prices will not guarantee a long term reversal:
Bitcoin went above the thirty-four thousand dollar mark in Jan this year however it was significantly less as compared to the peak in November 2021, where it was trading at sixty-eight thousand dollars. Given the fact that the crypto currency is very volatile, the decrease or increase in prices will not guarantee a long-term reversal. The crypto currency and blockchain experts feel that the crypto investors have to deal with this in the future.
The management adds ten thousand Billion dollars’ worth of Bitcoin to their project reserves:
As a result of the price hike in the past 1 month, Terra (LUNA) is now famous the world over. The act of the management to add ten thousand Billion dollars’ worth of Bitcoin to their project reserves, they believe that might create a new monetary era for the Bitcoin standard. The investment raise of four hundred and fifty million dollars, by ConsenSys (Metamask wallet’s parent company), was raised in a Series D funding round led by the ParaFi capital. And now the company is valued at seven Billion dollars. This funding will be used for growth through the product suite. And this funding will be used to roll out a plugin extensibility system.