Global Crypto Market Value Surges By 6.35% Over the Last Day

BitcWill Buying BTC in 2022 Make You a Millionaire? oin (BTC) Price Drops Below $42K as Bears Start to Takeover
  • There has been an 8.11 percent increase in bitcoin’s value in the last 24 hours.
  • Andreessen Horowitz reportedly plans to raise $4.5 billion for crypto funds.

As of this writing, the overall value of the cryptocurrency market has risen by 6.35 percent to $1.66 trillion, according to statistics from CoinMarketCap. After a week of steep declines, the crypto market has now steadied, with Bitcoin’s price rising to an intraday high of $36,814 at the time of this writing.

There has been an 8.11 percent increase in bitcoin’s value in the last 24 hours, according to CoinMarketCap statistics. SHIB is up 8.86 percent at $0.000021, while Ethereum is up 8.29 percent at $2,416, as of this writing.

For both conventional and crypto markets, an interest rate decision by the Federal Open Market Committee (FOMC) on Wednesday might have immediate consequences.

No One Can Predict the Future

Mati Greenspan, the founder and CEO of Quantum Economics tweeted in a sarcastic phrase no one can foretell what the future of cryptocurrency will hold. The creator also included a BTC chart from November of last year, in which he correctly forecasted $33K for the cryptocurrency. Take a look at the tweet.

A nip is in the air, according to Nexo co-founder and managing partner Antoni Trenchev. The first half of his two-part crypto-winter definition has already been fulfilled: a steep decrease in Bitcoin prices. Unlike the winter of three years ago, crypto-sphere investment is solid — at least for the time being. 

According to the Financial Times, a $2 billion venture fund for Web3 prospects was launched by cryptocurrency exchange FTX in January, while Andreessen Horowitz reportedly plans to raise $4.5 billion for crypto funds. Of course, a protracted downturn might dampen interest in the industry.

A devoted content writer having 3 years of crypto trading experience. Loves cooking and swimming. Stays up to date with the latest developments on blockchain technology.