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Cryptos: More Volatility Ahead

By Naeem AslamCryptocurrencyJan 24, 2022 01:37AM ET
www.investing.com/analysis/cryptos-more-volatility-ahead-200615668
Cryptos: More Volatility Ahead
By Naeem Aslam   |  Jan 24, 2022 01:37AM ET
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Crypto markets, like the larger equities markets, have been volatile in recent weeks. Bitcoin, the king of cryptocurrencies, has fallen from roughly $69,900 in November to $35,000 at time of writing, as investors flee riskier and speculative assets.

The digital sector's downturn was exacerbated further by margin holdings that investors had to liquidate in order to pay off their margin debts during the selling binge.

The latest collapse in crypto markets cost them about $1 trillion in market value, with Bitcoin losing nearly $600 billion. Bitcoin dipped 7.2 percent during the weekend, trading as low as $34,042 on Saturday before recovering back above the $35,000 barrier. During the same time frame, Ethereum fell by 12%, while Cardano and Solana fell by roughly 17%.

Moving forward, digital assets are expected to remain volatile as the Fed announces its monetary policy for the next months and hints at how it intends to hike interest rates in the near future.

Furthermore, rumors have it that Washington intends to announce its strategy for dealing with cryptocurrencies as early as February and will request that authorities begin assessing the benefits of the digital industry against its risks.

Cryptos: More Volatility Ahead
 

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Cryptos: More Volatility Ahead

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Fortune Tachie
Fortune Tachie Jan 24, 2022 11:44AM ET
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On a personal level, would you suggest that anyone considering a Crypto investment especially now that the price of Bitcoin is down, would you encourage any friend to invest?
 
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