Dogecoin Outpaces Bitcoin and Ethereum Amid Musk’s Twitter Takeover
Crypto markets continued to see green for the second week running. Bitcoin gained 3% over the last seven days and currently changes hands at $21,314. Ethereum rose nearly 2% during that time and trades for $1,640. Both could have made more headway, but the U.S. Federal Reserve’s announcement on Wednesday of yet another 0.75% interest rate hike.
Interest rate hikes are typically (but not always) met with bearish sentiment among investors who go for riskier assets like crypto or equities. The reason being that higher rates make it harder for people to borrow money, so broadly speaking they hold onto their wealth and forgo their chancier investments. Several top thirty currencies positively mooned this week. On Friday, the two market leaders recovered a little following the release of a Labor Department.
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