"The decrease in risky assets was caused by the growing tension around Ukraine, where the situation is becoming tenser." Last week, the bitcoin price "began to fall sharply in unison with stock indices," Alex Kuptsikevich, senior financial analyst at FxPro, wrote in emailed comments. "The stage is set for another volatile week as investors consider which stocks might be impacted if Russia does ratchet up the tension by sending troops into regions held by Russian backed separatists." markets are closed for President’s Day but few on Wall Street will be sorry when they look out at the sea of red being displayed by their European Counterparts," Danni Hewson, AJ Bell financial analyst, wrote in an emailed note. The ethereum price has seen similar declines. The bitcoin price has crashed 10% over the last week, dropping under the closely-watched $40,000 per. "As we look ahead to a new trading week with a serious fundamental cloud overhead, there are many assets that face significant volatility and directional variability depending on what world leaders decide."ĬryptoCodex -A free, daily newsletter for the crypto-curious MORE FROM FORBES Crypto Crash: Bitcoin Now Braced For A $100 Trillion Bombshell That Could Boost The Price Of Ethereum, BNB, Solana, Cardano And XRP By Billy Bambrough "$32,500 looks more like the ‘point of no return,'" John Kicklighter, chief strategist at DailyFX, said via email. Traders are now more focused on potential downsides than upsides. The bitcoin price-along with ethereum and other major cryptocurrencies-has traded more like a high-growth tech stock since mid-2020 and has crashed along with them in recent months. Investors are now braced for an interest rate hike in March, with more expected to follow. "We really did hit peak stupid, but peak stupid extended beyond truly, truly stupid and then we went to bottom-of-the-ocean-rare-earth-metal-companies stupid."īig stock market winners during pandemic-era lockdowns-such as Coinbase, Peloton, Zoom and PayPal-have dropped sharply from their recent highs, with the likes of Facebook's Meta and Elon Musk's Tesla also falling hard as investors get to grips with a return to normality.įed chair Jerome Powell triggered the sell-off in November when he signaled an ending of the Fed's easy monetary policy in order to tackle soaring inflation. The bitcoin and crypto market hit a combined value of around $3 trillion in November last year, up from under $300 billion two years ago. "I think there's going to be a few people who've really gone over their skis and will get hurt badly," the unnamed billionaire told Insider, with bitcoin and crypto named along with blank-check SPACs and retail-led meme stocks as examples of overblown market exuberance.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |