#LIVE MARKET WATCH CRYPTO HOW TO#

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#LIVE MARKET WATCH CRYPTO HOW TO#

Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. If bulls can hold Ethereum at the current level today, we might see it testing the US$2,000 level in the coming week,' Edul Patel, co-founder and CEO of crypto investing platform Mudrex told Business Standard.īusiness Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. While on the other side, Ethereum has been on a consolidation phase and is moving to test the US$1,800 level. A broad accumulating trend can break this level. 'If the bull rally continues with limited sell-offs, we might see BTC reaching US$25,000 soon. So, a futuristic view of the market is what is helping the Crypto market in being resilient & reaffirms its bright future,' said Punit Agarwal, founder and CEO, of KoinX. 'They don’t usually react on what happened or what’s happening but rather on what might happen in say next 2,4 or 6 months. Some experts are more optimistic about the crypto market in the coming days. The total market cap of the crypto market was above $1.1 trillion. Ethereum, the second largest cryptocurrency, was at $1,720.56. 'The Fed’s evasion of questions on bond market pricing and forward guidelines by stating that future monetary policy decisions will be completely data-dependent was characterised as extremely dovish by the market with speculation that peak Fed hawkishness is behind us amidst an ease in commodity prices and other essential goods,' said CoinDCX's research team.Īt 4pm on Friday, Bitcoin, the largest cryptocurrency by market cap, was trading at $24,048.36, according to. He also added that further policy decisions will be based on future numbers. However, Fed chair Jerome Powell in his statement, on Wednesday, said that the US is not in recession, even as the US GDP contracted by 0.9 per cent in the last quarter. Recession fears had weighed down the markets, across the globe, for the last two weeks. The US central bank, on June 27, also announced that the inflation in the country for June stood at 9.1 per cent, much higher than its upper tolerance level of 2 per cent. The Fed's 75 basis points rate hike came as a relief to many as policymakers expected a bigger hike due to high inflation.

A 75 bps rate hike is less hawkish than a 100 bps rate hike,' Seinberg said. 'This can be considered as a relief rally as the worst was priced in the market and things were not as bad as were expected. Crypto is not immune to global factors or economies of the world,' Dileep Seinberg, Founder & CEO, MuffinPay, said. 'This should not be considered as Crypto winter is over. However, experts say the crypto market's crisis is not over. Bitcoin has rallied over 10 per cent since Wednesday and Ethereum has jumped over 15 per cent. Cryptocurrency market capitalisation, in the week ending July 29, stayed above $1 trillion even as the US Federal Reserve (Fed) hiked its key interest rate by 75 basis points on July 27.

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