Part of the reason behind this sharp decline in the value of Bitcoin is down to policy changes from the US Federal Reserve , as its chair, Jerome Powell, declared last December that the monthly rate at which it reduces asset purchases would be doubled by the Federal Open Market Committee (FOMC).
Read moreWhy did crypto crash today?
The recent intensification of the crash appears to be partly the result of the Russian central bank last week calling for a ban on the use and “mining” of cryptocurrencies in the country . This was a big deal, as Russia is a major hub for crypto mining, particularly since China’s ban on the activity.
Read moreWhy did crypto go down today?
Why is crypto down so much? Uncertainty in traditional markets and Fed concerns , experts say. Over the past week, the cryptocurrency market has experienced massive drops, reaching lows not seen in months.27 Oca 2022
Read moreIs crypto going to recover?
Crypto market needs 2-3 months to stabilize before ‘a more sustainable recovery’ , analyst says, as bitcoin falls below $40,000.
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