The macro market has been influencing the price of crypto to a much larger degree in the last couple of months compared to a year ago. This is no surprise given that some of these companies, which are heavily involved in the macro market, also extended their investments to cryptocurrencies such as Bitcoin. Hence, when the macro environment affected these companies, crypto was affected. Even now, the influence continues to maintain hold.
Losses Flow To Crypto
Over the last week, there have been some major happenings in regard to the economy. Fed Chair Jeremy Powell said that as the government tried to get the inflation rate under control, there would be a lot of “pain” coming to the market. The market had taken such grim forecasts and ran with them, triggering massive losses across the stock market.
By the end of Sunday, the stock market had recorded $1.25 trillion in losses. For comparison, this number is much larger than the entire crypto market cap. The effects of Powell’s speech...
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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...