Cryptocurrencies have been closely correlated with U.S. equities.
Prices are expected to keep trending downward.
Crypto Winter is no longer coming—it’s here. A bear market. But just how bad will it get, and for how long? Well, according to analysts who spoke to Decrypt, the worst is yet to come.
The real issue now is inflation, which is soaring in the U.S. (and everywhere else), and which the Federal Reserve wants to get under control by raising interest rates.
Last week, the central bank increased rates by 0.75%, the single largest raise since 1994. Fed officials added that more raises likely would come later this year. Higher interest rates make it tougher to borrow money, which means fewer investors are willing to bet on assets with greater perceived risk, such as stocks or cryptocurrencies.
Bitcoin, considered by many to be “risky,” is plunging alongside equities. Right now, the biggest cryptocurrency by market cap is trading for $20,333.59, according to CoinMarketCap. The...
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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...