Bitcoin Cs Crypto Market Improves, But Hasn’t Entered the Bullish Phase

Bitcoin Cs Crypto Market Improves, But Hasn't Entered the Bullish Phase

news.gerbangindonesia.orgBitcoin Cs Crypto Market Improves, But Hasn’t Entered the Bullish Phase. Crypto assets such as bitcoin which previously fell 10 percent in the last 7 days are now eroding the decline to 5 percent.

cryptos stop in line with the stock market crash triggered by comments made by US President

The value of the crypto asset Bitcoin and more than one other big cap has already fallen towards the end of this week. Bitcoin price fell 5% percent over the last 24 hours on Saturday (19/2/2022) at 07.45 WIT, falling towards US$40,205, with Ethereum, Bnb, Solana, Cardano and XRP also experiencing similar declines. crypto trader shop Afid Sugiono saw the fall in the price of Bitcoin and other cryptos stop in line with the stock market crash triggered by comments made by US President, Joe Biden on Thursday (17/2/2022), that Russia could attack Ukraine in a matter of days.

The on going Russia-Ukraine conflict could trigger further effect to the crypto asset market

“The on going Russia-Ukraine conflict could trigger further uncertainty to the crypto asset market, which is already being impacted by macroeconomic concerns stemming from rising interest rates and tightening monetary policy in the coming months,” Afid said in a formal statement, quoted on Saturday (19/19/2020). 2/2022).

Afid explains the price of crypto assets in terms of supply and demand. Moments that have an impact on the world’s economy determine the need for people to buy or own these digital assets. During periods of geopolitical tension, investors tend to avoid volatile assets and keep their money in safe-haven assets such as cash and gold.

rising interest rates are also likely to affect

Ultimately, rising interest rates are also likely to affect the performance of all crypto asset markets. When interest rates are low and it’s cheap to borrow money, investors tend to pour their funds into high-risk investments, including Bitcoin. Instead, investors move their money away from riskier investments following an increase in interest rates.

Bitcoin and other crypto markets have shown signs of recovery after weakening last month. Bitcoin price briefly rose above US$45,000 per BTC last week, with Ethereum and the other top ten coins Bnb, Solana, Cardano, and XRP expressing similar power. “Although Bitcoin trading has been fairly active in the last more than a week, many market participants are still sitting around and waiting and seeing with the volatility of the current asset class,” added Afid.

Inflation rates and possible macro uncertainty will also influence risk sentiment in the coming weeks. Lack of investor confidence, it may take more than a while for the crypto market to become bullish again.

 

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