Bitcoin drops with interest rate hikes in focus

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Bitcoin fell on Monday (19), although it reduced losses from earlier, under the impact of a general drop in risk assets around the globe with potential interest rate hikes this week, especially in the United States.

At around 12:10 pm, bitcoin, the biggest cryptocurrency by market cap, was down 0.6% to $19,298 (R$102,000), after earlier hitting a three-month low at $18,271 (R$18,271). $96 thousand).

Ether, the second-largest cryptocurrency, was up 1.8% after falling to a two-month low earlier.

The Ethereum blockchain, which underpins ether, had a major upgrade last week that changes the way transactions are processed and reduces energy usage.

The token’s value has plummeted amid some speculation that statements last week by Securities and Exchange Commission (SEC) Chairman Gary Gensler suggested the new structure could attract extra regulation. .

“It’s speculation about what may or may not happen,” Matthew Dibb, COO of Singapore-based cryptocurrency platform Stack Funds, said of the regulatory outlook.

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