With the Federal Reserve intending to withdraw stimulus from the market, riskier assets the world over have suffered.

in instablurt •  2 years ago 

Bitcoin’s decline since that November high has wiped out more than $600 billion in market value, and over $1 trillion has been lost from the aggregate crypto market.For Bitcoin, there’s only been one constant recently: decline after decline after decline. And the superlatives have piled up really quickly.
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With the Federal Reserve intending to withdraw stimulus from the market, riskier assets the world over have suffered. Bitcoin, the largest digital asset, lost more than 12% Friday and dropped below $36,000 to its lowest level since July. Since its peak in November, it has lost over 45% of its value. Other digital currencies have suffered just as much, if not more, with Ether and meme coins mired in similar drawdowns.

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