Bitcoin fell to a three-month low as cryptocurrencies took a dip on Monday ahead of global monetary tightening concerns and amid regulatory concerns.
According to Bloomberg, the largest digital token was at the cusp of the lowest level since 2020 to as much as 6.7% and was trading at $18,500 as of 7:10 am in London. While Ether, the second largest cryptocurrency, shed up to 6.2%, struggling to hold the $1,300 mark.
Regulatory concerns and monetary tightening are expected to stretch from Europe to the US this week, and investors globally have turned shy on risky assets.
Investors are preparing for volatility due to the major interest-rate hike, which is expected this week from the Federal Reserve to fight price pressures. Bloomberg reported that US equity futures were in the red and a dollar gauge pushed higher in signs of market caution.
Yet, long-term investors (3 to 5 years horizon) might have nothing to worry about as Bitcoin price will eventually surge as the macro environment...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...