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Bitcoin falls to $38,000 while Ethereum drops to $2,650

Bitcoin, whose value reached $44,000 on February 16, once again collapsed: at the end of Sunday, 1 BTC is already worth about $38,400.

Analysts say that this is not yet the limit of the fall in the value of the world's main cryptocurrency: if in the near future the situation around Ukraine, in which both the United States and Russia are involved, does not normalize, then quotes may fall to $35,000, and even go below this mark. The second factor in the decline in the cost of cryptocurrencies is the expectation of an imminent increase in interest rates in the United States against the backdrop of record inflation in the country.

Of course, other cryptocurrencies are also falling. If Bitcoin fell by 8.8% on a weekly basis, then the cost of Ethereum decreased a little less - by 7.6%. Now 1 ETH is valued at $2,650. In the top 10, only Avalanche added over the week, and even then only about 0.5%.

Dogecoin lost about 10% in a week and again fell out of the top 10: it is in 11th place in the list of the world's main cryptocurrencies. Meme Shiba Inu lost even more in a week - 15.5%, but at the same time she holds 14th place.

Bitcoin falls to $38,000 while Ethereum drops to $2,650