Bitcoin Makes a Free Fall to US$19k after Inflation Warnings Spark
Bitcoin has hit US$19k post-announcement of inflation warnings from the US Federal Reserve
Bitcoin has created worldwide tension in the global crypto market with its drastic fall in the BTC price since June 2022. From hitting the all-time high record of reaching US$68k in November 2021, the most popular cryptocurrency has hit US$19k in July 2022. Crypto investors are speculating multiple reasons such as inflation for the sudden drop of Bitcoin to drive loss in crypto wallets. But the highly volatile crypto market is divided into two categories for Bitcoin — short-term investors who are ready to utilize the BTC price to buy the dips and long-term investors who are incurring losses in crypto wallets. Let’s explore one of the key reasons for the major and dramatic BTC price fall in the crypto market — inflation.
Current status of BTC during the crypto crash
The crypto market has already experienced the crypto crash of Bitcoin in 2018. But why again the worst situation of BTC price is getting repeated in June-July 2022? At the time of writing, the current Bitcoin price in the highly volatile crypto market is US$19,457.64 with a market cap of US$375.45 billion with a volume of US$32.83 billion. There are speculations from crypto analysts and professionals that the BTC price will continue to fall till it hits the US$10k to US$5k range.
There are multiple reasons for Bitcoin to drive loss like this to crypto investors in 2022 such as the sudden announcement from Celsius Network about freezing withdrawals and transfers of cryptocurrency for an indefinite period, the pandemic, extreme market conditions, as well as an announcement from the US Federal Reserve. But Bitcoin is disappointing the global crypto market by dropping more and more instead of soaring high. Some crypto investors have started selling off their Bitcoin holdings to avoid any serious consequences in their crypto wallets.
Inflation warning: Bitcoin plunges and hits US$19k
The central banks have renewed their inflation warnings at the Annual Forum of the European Central Bank. The official announcement has made Bitcoin drop its price to 5.5% with a record of a 40% monthly decline. The US Federal Reserve has announced an increase in interest rates. This can curtail inflation in the nearby future while driving the US economy towards a looming recession. The increase can cause a higher price of commodities and this also created a huge impact on the stock market. There is an underlying pressure of selling off Bitcoin holdings in the highly volatile crypto market.
Bitcoin has breached a key threshold of briefly hitting US$19,000 before reaching US$19,457.64 and is still down more than 70% from November 2021. The fall in BTC price has caused a liquidity issue in the community of blockchain tech companies across the world. Some crypto professionals are expecting Bitcoin to hit US$10k in the nearby future to start soaring high efficiently and effectively.
The sharp downtrend of the popular cryptocurrency is created by inflation warnings. Bitcoin dove deep into the crypto bloodbath with a massive struggle to be in the US$19k price range for crypto investors. The rapid slide in the BTC price is showing that the US Federal Reserve is still making good progress in controlling the inflation rate for the future. The most popular cryptocurrency has stepped down by over 38% in June for inflation and other economic conditions. The US Federal Reserve is struggling hard to fight the battle against inflation and financial speculation. The prices of other objects have risen significantly due to the emergence of the COVID-19 pandemic as well as the Russian-Ukraine war in 2022. Thus, it is expected that the hike in interest rates can ease the financial pressure across the world.
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The post Bitcoin Makes a Free Fall to US$19k after Inflation Warnings Spark appeared first on .
Bitcoin has hit US$19k post-announcement of inflation warnings from the US Federal Reserve
Bitcoin has created worldwide tension in the global crypto market with its drastic fall in the BTC price since June 2022. From hitting the all-time high record of reaching US$68k in November 2021, the most popular cryptocurrency has hit US$19k in July 2022. Crypto investors are speculating multiple reasons such as inflation for the sudden drop of Bitcoin to drive loss in crypto wallets. But the highly volatile crypto market is divided into two categories for Bitcoin — short-term investors who are ready to utilize the BTC price to buy the dips and long-term investors who are incurring losses in crypto wallets. Let’s explore one of the key reasons for the major and dramatic BTC price fall in the crypto market — inflation.
Current status of BTC during the crypto crash
The crypto market has already experienced the crypto crash of Bitcoin in 2018. But why again the worst situation of BTC price is getting repeated in June-July 2022? At the time of writing, the current Bitcoin price in the highly volatile crypto market is US$19,457.64 with a market cap of US$375.45 billion with a volume of US$32.83 billion. There are speculations from crypto analysts and professionals that the BTC price will continue to fall till it hits the US$10k to US$5k range.
There are multiple reasons for Bitcoin to drive loss like this to crypto investors in 2022 such as the sudden announcement from Celsius Network about freezing withdrawals and transfers of cryptocurrency for an indefinite period, the pandemic, extreme market conditions, as well as an announcement from the US Federal Reserve. But Bitcoin is disappointing the global crypto market by dropping more and more instead of soaring high. Some crypto investors have started selling off their Bitcoin holdings to avoid any serious consequences in their crypto wallets.
Inflation warning: Bitcoin plunges and hits US$19k
The central banks have renewed their inflation warnings at the Annual Forum of the European Central Bank. The official announcement has made Bitcoin drop its price to 5.5% with a record of a 40% monthly decline. The US Federal Reserve has announced an increase in interest rates. This can curtail inflation in the nearby future while driving the US economy towards a looming recession. The increase can cause a higher price of commodities and this also created a huge impact on the stock market. There is an underlying pressure of selling off Bitcoin holdings in the highly volatile crypto market.
Bitcoin has breached a key threshold of briefly hitting US$19,000 before reaching US$19,457.64 and is still down more than 70% from November 2021. The fall in BTC price has caused a liquidity issue in the community of blockchain tech companies across the world. Some crypto professionals are expecting Bitcoin to hit US$10k in the nearby future to start soaring high efficiently and effectively.
The sharp downtrend of the popular cryptocurrency is created by inflation warnings. Bitcoin dove deep into the crypto bloodbath with a massive struggle to be in the US$19k price range for crypto investors. The rapid slide in the BTC price is showing that the US Federal Reserve is still making good progress in controlling the inflation rate for the future. The most popular cryptocurrency has stepped down by over 38% in June for inflation and other economic conditions. The US Federal Reserve is struggling hard to fight the battle against inflation and financial speculation. The prices of other objects have risen significantly due to the emergence of the COVID-19 pandemic as well as the Russian-Ukraine war in 2022. Thus, it is expected that the hike in interest rates can ease the financial pressure across the world.
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The post Bitcoin Makes a Free Fall to US$19k after Inflation Warnings Spark appeared first on .
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