Bitcoin prices plunge along with stocks
— Dollar, Yields, Los, Stocks, Bitcoin, Plunge, Global, Angeles, Crypto, Prices, Bond, Digital — 1 min read
The world’s most valuable cryptocurrency was down 10% Monday after plunging again over the weekend. Bitcoin prices have now plummeted nearly 20% in the past week. Bitcoin is more than 50% below its record high of near $69,000 from late last year and at its lowest point since July 2021. Other cryptocurrencies, sometimes referred to as altcoins, have been hit hard too. Bitcoin hit by the same problems dragging down stocks and susceptible to the same concerns that are dragging down the Dow, S&P 500 and Nasdaq. The Federal Reserve is starting to pull back on monthly bond purchases and other stimulus stimulus which could be bad news for all sorts of speculative assets. Some crypto skeptics think the selling in bitcoin has only just begun. Source