Dubai, UAE / TEH: The price of the cryptocurrency, “Bitcoin”, fell more than 2% on Monday to trade at less than 42,000 dollars, amid concerns about the US Federal Reserve’s moves to raise interest rates.
And the minutes of the Federal Reserve showed, last Wednesday, that monetary policymakers stressed the need to raise the interest rate by 50 basis points in one or several upcoming meetings, to curb inflation, which reached its highest level in 40 years.
At 12:00 GMT, the price of the largest cryptocurrency in the world was trading at a decrease of 2.31 percent on a daily basis to $ 41,534.
The market capitalization of “Bitcoin” reached $787.2 billion, with a total of 19,008 million units traded out of a total of 21 million units offered.
The price of “Ethereum”, the second-largest digital currency in the world by market value after Bitcoin, decreased by 4.92 percent to $ 3,080, with a total market capitalization of $ 370.3 billion.
The BNP currency fell 3.66 percent to $407.35, bringing the market value to $67.09 billion.
The market value of the total virtual currencies around the world decreased to $ 1.89 trillion, distributed over 18,817 virtual currencies, which are traded through 505 platforms, according to data from the Coinmarketcap website.
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.
