Bitcoin fluctuates at US$30,000; Ether gains; Litecoin, XRP drop; U.S. equities fall on recession concern
Bitcoin’s value has continued to fluctuate, hovering around the US$30,000 mark as investors consider how new regulatory measures may impact the cryptocurrency industry. Meanwhile, Ether has been gaining value, seeing a 9% increase in the past week. However, Litecoin and XRP have seen drops in their value.
In addition to cryptocurrency markets, broader U.S. equities have fallen amid concerns about a potential economic recession. Fears about a potential recession have been fueled by ongoing trade tensions with China, rising inflation rates, and uncertainty about the future of U.S. tax policies. Despite the dip in equities, some investors remain optimistic about the long-term prospects for the U.S. economy, particularly given strong employment numbers and steady growth in consumer spending.
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