The capitalization of the cryptocurrency market has fallen below $1 trillion. This was caused by the fall of the bitcoin exchange rate to $ 19 thousand, which, in turn, was caused by the strengthening of the US dollar due to the aggressive policy of the Federal Reserve System.
The policy of the US Federal Reserve has put pressure on all risky assets, which include cryptocurrencies, CNBC notes.
The experts interviewed by the TV channel also pointed to the connection between stocks and cryptocurrencies – if some are getting cheaper, then others are getting cheaper. Investors tend to avoid investing in risky assets and keep money in reliable, for example, currencies, experts noted.
The current bitcoin exchange rate fell below $19 thousand for the first time since June 18. The fall of the main cryptocurrency led to a decrease in the capitalization of the entire cryptocurrency market below $ 1 trillion.
Over the year, the capitalization of the cryptocurrency market has more than doubled. At the end of August 201, the market was estimated at $2.06 trillion.