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A SHORT LIVED CRYPTO MARKET RECOVERY WAS SEEN

A SHORT LIVED CRYPTO MARKET RECOVERY WAS SEEN 

The crypto market recovery on Thursday was short-lived as many large tokens dropped by at least 7% the previous day, with Bitcoin trading reaching US $ 20,000 for the first time since December 2020.


The world's largest cryptocurrency dropped to 10% to reach as low as US $ 20,265 on Friday morning in Asian time, and the price of US $ 20,790 at the time of publication, according to CoinMarketCap.


Ethereum dropped to 15% to hit $ 1,058 low Friday morning before recovery to switch hands to $ 1,105 at the time of publication.


The two cryptocurrencies traded 57% and 67% below their prices since the beginning of the year, respectively.


Solana and Polkadot saw huge losses, down more than 10% in the last 24 hours to trade at $ 31.91 and US $ 7.35 at the time of publication.


Dogecoin overtook Polkadot to re-enter the crypto top 10 with a market cap, despite a 7% decline to trading at $ 0.5665 at the time of publication.


The crypto market initially responded positively to the U.S. The Federal Reserve announces an increase in interest rates by 75 points, but has since cleared profits from a short rally.

Source: yahoo



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