africa spectator
No Result
View All Result
  • Home
  • Horn of Africa
  • Sudan Politics
  • Culture
  • Science and Tech
  • Sudan Economy
  • Hot Files
  • Middle East
  • Home
  • Horn of Africa
  • Sudan Politics
  • Culture
  • Science and Tech
  • Sudan Economy
  • Hot Files
  • Middle East
No Result
View All Result
africa spectator
No Result
View All Result

Bitcoin value drops by 50% since November peak

by The African Spectator
May 9, 2022
Reading Time:2min read
0
Bitcoin value drops by 50% since November peak
Share on FacebookShare on Twitter

The value of Bitcoin continued to fall over the weekend as it dropped below $34,000 (£27,630), according to the Coinbase cryptocurrency exchange.

The world’s largest cryptocurrency by market value has now fallen by 50% since its peak in November last year.

The slide in the value of digital assets comes as stock markets around the world also dropped in recent days.

RELATED STORIES

Nasa to launch rockets from the Northern Territory for scientific research

Nasa to launch rockets from the Northern Territory for scientific research

June 8, 2022
Mine e-waste, not the Earth, say scientists

Mine e-waste, not the Earth, say scientists

May 9, 2022

On Monday, some Asian markets headed lower again with Japan’s benchmark Nikkei index down by around 2.5%.

Bitcoin accounts for about a third of the cryptocurrency market with a total value of close to $640bn.

Ethereum, the second biggest cryptocurrency in the world, has also fallen in value, down by more than 10% in the last week.

Although much of 2022 had been relatively quiet for the cryptocurrency market, volatile trading in digital assets has not been that unusual in previous years.

Trading was dominated for years by individual investors, but more recently the market has seen an influx of professional investors, such as hedge funds and money managers.

With more traditional investors trading digital assets, cryptocurrencies have increasingly followed the movements of global stock markets.

Many of the institutional investors that buy cryptocurrencies treat them as risk assets, similar to technology stocks.

In times of market uncertainty traditional investors will often sell what they see as riskier assets and move their money into safer investments.

Last week, central banks around the world, including the US, UK and Australia, raised interest rates as they attempt to tackle rising prices.

The US Federal Reserve raised its key lending rate by half a percentage point, marking its biggest rate hike in more than 20 years.

That has triggered more concerns among some investors that inflation and the higher cost of borrowing could have a major impact on global economic growth.

Investors are also worried about the impact of the war in Ukraine on the world economy.

Meanwhile, in the last year Bitcoin has become legal tender in two countries – El Salvador and the Central African Republic.

Since El Salvador said it would allow consumers to use the cryptocurrency in all transactions, alongside the US dollar, the International Monetary Fund has urged it to reverse its decision.

Tags: BitcoinCryptocurrency

About Us

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Learn more

Recent Stories

  • Indonesian ambassador praises SMRC efforts in promoting mining sector
  • Al-Burhan receives South Sudanese Vice-President

Categories

  • Culture
  • Horn of Africa
  • Hot Files
  • Middle East
  • Science and Tech
  • Sudan Economy
  • Sudan Politics

Follow Us

Facebook Twitter Instagram
  • Home
  • Horn of Africa
  • Sudan Politics
  • Culture
  • Science and Tech
  • Sudan Economy
  • Hot Files
  • Middle East

© 2021 All right are reserved

No Result
View All Result
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
  • Landing Page
  • Buy JNews
  • Support Forum
  • Pre-sale Question
  • Contact Us