Bitcoin’s price dipped below $21,000 Thursday — its lowest price since December 2020 — following the Federal Reserve’s decision to raise interest rates by 0.75% and a week of falling value. The central bank signalled that further interest rate hikes will come this year to combat inflation, fueling recession fears.
The leading crypto has been trading in a relatively tight range for weeks as crypto and stock markets have struggled to regain any notable upward momentum following a broader sell-off in May. Experts also point to the continuous war in Ukraine and inflation hitting a fresh 40-year high for why we’re seeing slumping prices in the stock and crypto markets.
But when is the bottom??
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