Shiba, Dogecoin Among Biggest Losers as Macro Fears Leads to Market Fall
- Date: 18-Apr-2022
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
Shiba, Dogecoin Among Biggest Losers as Macro Fears Leads to Market Fall
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Poor macroeconomic sentiment and increasing fears of recession in the West laid the backdrop for cryptocurrencies to lose some 4% of their market capitalization in the past 24 hours, with several major tokens taking hits of upto 8%.
Analysts at Goldman Sachs said in a note that the Fed’s aggressive measures to control inflation could likely result in recession. The bank put the odds of an economic contraction – a phase of the business cycle in which the economy as a whole is in decline – at about 35% over the next two years.