Why Ethereum and Dogecoin Investors Lost Money Today
Two of the top altcoins, Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE), weren't viable alternatives for investors on Friday. As of late afternoon that day, the value of the former had slid by 2% and the latter by just over 1%, but that was expected given recent pronouncements by a high-level financial regulator.
Cryptocurrency investors were anxious about Federal Reserve chairman Jerome Powell's comments Thursday that the central bank will have to be more active in its efforts to tame inflation. Specifically, he said that a half-point rate hike from the Feds is a definite possibility next month.
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Source Fool.com