Bitcoin briefly falls below $40,000 and 5 other crypto updates you should know.
The cryptocurrency market is continuing its new year slump.
On Monday morning, the price of bitcoin, the largest cryptocurrency by market value, fell below $40,000 for the first time since September, dropping to $39,771, according to Coin Metrics. It's currently trading at around $41,530.
Ether, the second-largest, also fell, going below $3,000 to $2,979. It's currently trading at around $3,037.
After the minutes of the Federal Reserve's December meeting were released on Wednesday, indicating that it would start to reduce its balance sheet, dial back its monetary policy support and potentially raise interest rates, riskier assets like cryptocurrency took a hit and have fallen since.
Along with price movement, here are five important things that happened in the cryptocurrency space this past week.
Hopefully you find this Article helpful ☺️☺️