Bitcoin value drops by 50%

Bitcoin value drops by 50%

Bitcoin value drops by 50%
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Bitcoin’s value continued to decline over the weekend, falling below $34,000, according to the Coinbase cryptocurrency exchange.

The world’s largest cryptocurrency by market value has dropped by half, since its high in November last year.

The decline in the value of digital assets coincides with a slump in stock markets around the world in recent days.

Some Asian markets fell again on Monday.

Japan’s Nikkei index fell by approximately 2.5 percent.

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With a market capitalization of about $640 billion, Bitcoin represents roughly a third of the crypto currency market.

Ethereum, the world’s second largest crypto currency, has also dropped in value, losing more than 10% in the last week.

The cryptocurrency market was relatively quiet for much of 2022.

Individual dominated trading for years, but professional investors such as hedge funds and money managers have recently entered the market.

Crypto currencies have increasingly mirrored the swings of global stock markets as more traditional investors trade digital assets.

Many institutional investors who purchase cryptocurrencies do so as risk assets.

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Traditional investors will typically sell riskier assets and move their money into safer investments during periods of market instability.

Central banks around the world, hiked interest rates last week in a bid to combat rising prices.

The Federal Reserve of the United States boosted its key lending rate by half a percentage point.

The largest increase has been in more than two decades.

This has increased market concerns that inflation and increasing borrowing costs will have a significant impact on global economic development.

Investors are also concerned about the global economic implications of the Ukraine conflict.

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