Crypto is collapsing. Mortgage rates are soaring. Here’s what it all means

CNN

Crypto is collapsing. Mortgage rates are soaring. Here’s what it all means

You have definitely seen the headlines: mortgage rates are spiking, crypto is collapsing, and bears are back on Wall Street. But what does it all mean? ‘Nightcap’ host Jon Sarlin talks with CNN Business’ experts about what on earth is going on in the economy. To get the day’s business headlines sent directly to your inbox, sign up for the Nightcap newsletter===Bitcoin drops below $20,000 as crypto meltdown continues The price of bitcoin breached $19,000 and ethereum fell below $1,000 Saturday morning, extending the brutal crypto bear market to new lows. Bitcoin plunged nearly 10% in less than 24 hours, adding to a series of sustained losses over the last several months. It now sits below $20,000 for the first time since November 2020, down more than 70% from an all-time high of $68,000 per coin in November 2021. B itcoin has lost $900 billion in value since that peak. Ether is also experiencing a so-called crypto winter. The second-largest digital token plummeted 10% on Saturday to $975, its lowest level since January 2021. The coin has lost 80% of its value from its record high last November. The massive crypto meltdown is part of a larger market downturn brought on by elevated inflation, rising interest rates, war in Ukraine, Covid lockdowns and supply chain chaos. This week, the Federal Reserve increased interest rates by 75 basis points, the largest hike since 1994. The change led to a retreat from all assets. The S&P 500 is also in a bear market and posted its worst week on record since 2020. Read more at: l

10 thoughts on “Crypto is collapsing. Mortgage rates are soaring. Here’s what it all means”

  1. This program is a SHAM. You represent HATE. You have lost all credibility! Russian Operative? WOW and now you think it was an INSURECTION. OMG. Pissed off Americans yes, but WTF. The country is laughing at you now as we watch you fail. Your gig of lies is up! Is Donald Trump a Russian Operative? When we take over the house, get your lawyers! Stop the HATE! Now!

  2. Jan 6th Committee is nothing more than a kangaroo court and an attempt to give Democrats any hope in midterms..its a complete fabrication and made up lies and smears against anyone who opposes Biden and Democrats push towards SOCIALISM…..😥
    Putin would have NEVER invaded Ukraine if TRUMP was PRESIDENT🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸
    Trump is a LIVING God 🇺🇸🕇🇺🇸 and probably the GREATEST MAN to have EVER lived past present and future…He is the KING OF AMERICA…👑👑👑…😍😍😍🇺🇸🇺🇸🇺🇸🇺🇸
    Trump should be on Mount Rushmore…NEXT to Lincoln…🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸.

  3. Singling out crypto? as if other class assets are soaring atm😂 I call this a brutal FUDDING😂

  4. i count myself to be successful in crypto trading since i started trading with a professional broker mr charles anthony his skills set exceptional coupled with the little commission he charges on his trade

Leave a Comment