Why is the BTC price dropping?

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).

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Why 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.

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