Crypto collapse – Cryptocurrencies prices were hammered during the weekend following the major sale last week in American shares.
The Bitcoin price fell by around 4% between Friday evening and Sunday at less than $ 33,000, or about half of its summit in November. The Bitcoin value is now down 18% in the last month. He culminated at a price of $ 69,000 last November.
The price of ether, which is the second largest cryptocurrency by market capitalization, fell below $ 2,400, or more than 5% compared to Friday.
It was an active weekend of negotiations on the cryptography market, with $ 112 billion in market volume, according to CoinmarketCap data.
The cryptography market has become more and more correlated with the stock market, because major institutional investors like the hedge funds have entered the market. With the Nasdaq down 21% this year, the price of Bitcoin is down 22%.
“While Bitcoin, in particular, was considered an asset not correlated with the stock market, the last six months have proven that retail and institutional investors treat it as any other risk asset which is not at the ‘Hikes and inflation interest shelter, “said Caleb Silver. “And, fundamental absent to support its price, it can become even more volatile than actions and basic products when the feeling is low.”