Fall during this Monday bitcoin price reaching its lowest level in more than nine months, Investors weighed in on fears And pulling other cryptocurrencies with it.
After breaking digital currency records last year, bitcoin has underperformed this 2022: reporting a 4.3% drop until Monday $32,762 That was 11:25 a.m. GMT, which means it’s lost at least a third of its value so far this year, plus more than one 50 percent Since it has reached its all-time high.
“There’s a correlation with riskier assets that’s clear, especially the Nasdaq,” the US stock index that groups multiple technology companies, said Neil Wilson, an analyst. Markets.com,
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During the last year, there was no limit to bitcoin as it would have been reached. 68 thousand dollarsEntering a historical maximum that infected rest cryptocurrencies Listed on the market, however, since then, the digital currency has done nothing but decline. It has done so with more force in recent times, as it has used at . has recorded a brutal decline of minus 50% which shows again Extreme volatility of cryptocurrencies.
assets are undermined by the prospect of monetary policy tightening within Americabecause of plenty of liquidity That prompted an increase in valuations closing in on the US Federal Reserve’s (Fed) rate hike.
Like bitcoin, other cryptocurrencies also suffered. For example, the value of Ethereum down 7.4%A $2,382, monday. According to the Coingecko portal, which monitors valuations of more than 13,000 cryptocurrenciesThe market already represents a bit more $1.5 trillionCompared to more than 3 billion last November, when it reached its peak.
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Similarly, it has been outlined that it may stem from the situation caused by the war between Russia and Ukraine, which has affected most of the economic sectors around the world, however, it has been speculated that analysts may expect a correction. not pointed to. ‘bubble burst’, As was appreciated during the turn of the century.