Bitcoin rose in price by 20% in a week, Ethereum by almost 50%
This week, the crypto market is in shock: in just one day yesterday, its capitalization increased by 60 billion dollars – to 1.06 trillion. Everything grows, but in different ways.
During the day, in the top 10 main cryptocurrencies of the world, Cardano has the largest increase — almost 10%. Bitcoin and Dogecoin followed, both adding about 6.5%. Weekly growth in Bitcoin – by 20%, in Dogecoin – by 17%. But the most in a week, Ethereum added almost 50%
But how long will the rally last? Already next week, on July 26-27, the meeting of the Fed will take place, at which, as it is predicted, a decision will be made to increase the main rate by 75 basis points. This threatens a decline in the stock market, with which the cryptocurrency market is fully correlated. In other words, cryptocurrency rates may drop after the Fed meeting, thus canceling the growth of recent days.
