Why Bitcoin, Dogecoin, and Shiba Inu All Plunged Today
The crypto market was in full sell-off mode late on Wednesday and into Thursday as investors assessed the risk in the market. The Federal Reserve didn't help matters, releasing minutes from a recent meeting that confirmed the market's expectations that the central bank will be raising benchmark interest rates and reducing its bond holdings.
Bitcoin (CRYPTO: BTC) remains the giant among cryptocurrencies, and even it wasn't spared. Its token price had fallen by as much as 8.9% in the last 24 hours as of 11:30 a.m. ET. The cryptocurrency is down 7.7% as I'm writing.
Popular altcoins Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) are also down big. Dogecoin fell as much as 11% and is now down 6.9%; Shiba Inu was down 10.8% and is now off by 7.8%.
Source Fool.com
