Bitcoin has fallen to its lowest level since the December lightning crash of last year, as expectations of increased lending weighed on some of the top performers in recent years.
The cryptocurrency with the highest market value was once down 3.6% to $ 44,567, and the decline has narrowed since. This sent gold prices down to their lowest level since the crash last month. With the supportive measures used during the spread of COVID-19 everywhere, Bitcoin has grown by more than 500% since late 2019.
David Donabedian, Chief Investment Officer of CIBC Private Wealth Management, said in a telephone interview: “This is an investment proposal and the uncertainty will be significant.”
US stocks fell further after the results of the Fed meeting highlighted possible gains or inflation on the part of the Fed. The S&P 500 was down 1.5%, led by home equity and Nasdaq 100 tech, down 2.7%.
“The Fed is hawkish,” said Stéphane Ouelette, cryptocurrency platform FRNT Financial. “Although a long time but around inflation, retail prices etc. the aggressive response of most cryptocurrencies has become a member of the risk. Hmoo.”