{"id":27546,"date":"2022-05-09T03:22:03","date_gmt":"2022-05-09T03:22:03","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2022\/05\/09\/bitcoin-value-drops-by-50-since-november-peak\/"},"modified":"2022-05-09T03:22:03","modified_gmt":"2022-05-09T03:22:03","slug":"bitcoin-value-drops-by-50-since-november-peak","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2022\/05\/09\/bitcoin-value-drops-by-50-since-november-peak\/","title":{"rendered":"Bitcoin value drops by 50% since November peak"},"content":{"rendered":"
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Bitcoin’s value continued to fall over the weekend as it fell below $34,000 (\u00a327,630), according to cryptocurrency exchange Coinbase.<\/b><\/p>\n<\/div>\n

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The world’s largest cryptocurrency by market value is down 50% since its peak in November last year.<\/p>\n<\/div>\n

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The decline in the value of digital assets comes as stock markets around the world have also fallen over the past few days.<\/p>\n<\/div>\n

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On Monday, some Asian markets fell again, with Japan’s benchmark index, the Nikkei, falling about 2%.<\/p>\n<\/div>\n

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Bitcoin accounts for about a third of the cryptocurrency market with a total value of $650 billion.<\/p>\n<\/div>\n

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Ethereum, the world’s second largest cryptocurrency, has also lost more than 10% in value over the past week.<\/p>\n<\/div>\n

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  • Gucci stores accept cryptocurrencies in the US<\/li>\n
  • Bitcoin becomes official currency in CAR<\/li>\n<\/ul>\n<\/div>\n<\/div>\n
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    Although much of 2022 was relatively quiet for the cryptocurrency market, volatile trading in digital assets has not been all that unusual over the past few years.<\/p>\n<\/div>\n

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    Trading has been dominated by individual investors for years, but more recently the market has seen an influx of professional investors such as hedge funds and money managers.<\/p>\n<\/div>\n

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    As more traditional investors trade digital assets, cryptocurrencies have increasingly followed movements in global stock markets.<\/p>\n<\/div>\n

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    Many of the institutional investors who buy cryptocurrencies treat them as risky assets, much like tech stocks.<\/p>\n<\/div>\n

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    During times of market uncertainty, traditional investors often sell what they see as riskier assets and reallocate their money to safer assets.<\/p>\n<\/div>\n

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    Last week, central banks around the world including the US, UK and Australia hiked interest rates to counter rising prices.<\/p>\n<\/div>\n

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    The US Federal Reserve increased interest rates by half a percentage point, marking the largest rate hike in more than 20 years.<\/p>\n<\/div>\n

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    This has raised concerns among some investors that inflation and higher borrowing costs could have a major impact on global economic growth.<\/p>\n<\/div>\n

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    Investors are also worried about the impact of the war in Ukraine on the global economy.<\/p>\n<\/div>\n

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    Meanwhile, bitcoin has become legal tender in two countries \u2014 El Salvador and the Central African Republic \u2014 in the last year.<\/p>\n<\/div>\n

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    Because El Salvador said it would allow consumers to use the cryptocurrency alongside the US dollar in all transactions, the International Monetary Fund has urged it to reverse its decision.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    Bitcoin’s value continued to fall over the weekend as it fell below $34,000 (\u00a327,630), according to cryptocurrency exchange Coinbase. The world’s largest cryptocurrency by market value is down 50% since its peak in November last year. The decline in the value of digital assets comes as stock markets around the world have also fallen over […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-27546","post","type-post","status-publish","format-standard","hentry","category-business"],"yoast_head":"\nBitcoin value drops by 50% since November peak - Tahrir News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tahrir2day.com\/news\/2022\/05\/09\/bitcoin-value-drops-by-50-since-november-peak\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin value drops by 50% since November peak\" \/>\n<meta property=\"og:description\" content=\"Bitcoin’s value continued to fall over the weekend as it fell below $34,000 (\u00a327,630), according to cryptocurrency exchange Coinbase. 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