Concerning: Bitcoin falls to lowest since January, as Stock Markets shows a downtrend
With the unpredictability of cryptocurrency, the Bitcoin fell to its lowest since January, as the equity market’s slump continues to hurt digital currencies. The Bitcoin dropped to as low as 33,266 dollars; a fall below this level would be its lowest since July 2021.
The COO of Singapore-based crypto platform Stack FUnds, Matt Dibb, is quoted by different international publications as, “I think everything with crypto is still classed as a risk asset, and similar to what we have seen with the Nasdaq, most cryptocurrencies are getting pummelled.” Inflation and the worldwide increase in prices is also affecting the digital currency.
It has been further quoted as, “Other factors in the decline over the weekend – bitcoin were the crypto market’s notoriously low liquidity and short-lived fears that algorithmic stable coin called Terra.”