US Interest Rate Rise Causes Cryptocurrencies To Fall

Financial markets experienced a significant decline in quotes last night. The fall affects how valuablepaper and cryptocurrencies. A likely catalyst for today's movements is the words of US Treasury Secretary Janet Yellen about a possible increase in interest rates.

“The rates may need to be raised a little,so that our economy does not overheat. While the additional costs are relatively small in relation to the size of the economy, they can cause some very modest increases in interest rates. But these are investments that our economy needs to be competitive and productive. I think this will help our economy grow faster. ", - reports the words of Yellen CNBC.

Fed, which Yellen chaired from 2014 to 2018year, has kept short-term interest rates at near-zero levels for more than a year, despite the highest economic growth rates over the past 40 years. The current situation raises concerns about a possible increase in inflation, but Yellen argues that inflation should not be an issue. Even if that happens, the Fed has the necessary controls, the minister added.

Although economic recovery is logically attributed topositive news, rising interest rates lead to increased competition between bonds and stocks. The estimates of the latter are becoming more vulnerable, which is already reflected in world indices.

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Tech companies have historically been smallerare more prone to fluctuations due to economic growth or decline than manufacturers of basic consumer goods such as food. However, the pandemic has forced people to stay at home, leading to increased sales from companies like Amazon and Apple. Against this backdrop, shares rose to record levels. The restoration of normal economic activity leads to a decrease in their attractiveness, while companies sensitive to economic growth have performed better recently. Securities of Microsoft (MSFT), Alphabet (GOOG), Apple (AAPL), Amazon (AMZN) and Facebook (FB) fell 2-4% today.

Cryptocurrencies that are getting closer and closerassociated with traditional markets as a result of institutionalization, also turned out to be subject to negative dynamics. Bitcoin price dropped by 5% per day. Ether, which broke above $ 3,500 for the first time earlier in the evening, is now trading at $ 3,250.

Ironically, the hedge and non-correlating asset turned out to be the meme cryptocurrency Dogecoin, which today rose to $ 0.67 and is holding at these levels at the time of publication.

Where is it more profitable to buy bitcoin? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Bybit	https://bybit.com	7.5
3	OKEx	https://okex.com	7.1
4	Exmo	https://exmo.me	6.9
5	Huobi	https://huobi.com	6.5

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability&#8212; stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• Platform Features– availability of additional features &#8212; futures, options, staking, etc.
• final grade– the average number of points for all indicators determines the place in the ranking.

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