Bitcoin rebounded today, joined by significant gains in other cryptocurrencies, as concerns over interest rates continued to fuel market volatility.
“Bitcoin has bounced back today as we see the wider cryptocurrency market back in the green." said Arthur Firstov, Chief Business Officer at Mercuryo, a leading payment infrastructure provider in the digital token space. "Nevertheless, a mood of fear, uncertainty and doubt (FUD) has now engulfed the digital token space. The still nascent asset class is at the mercy of the gyrations of global financial markets. The actions of the US’s Federal Reserve – and whether it has been behind the curve on rate cuts – remain front and centre in the minds of traders. Cryptocurrency markets are likely to remain highly volatile amid frenetic trading in the days to come.”
