Mukhang bear market pa rin ang trend mga kabayan. Bumaba na naman ang bitcoin below $40k, nasa $38k lang ang price ng bitcoin now.
Maaring dahil dito sa article na nasa baba, pero bag bear market talaga, down trend ang experience most of the the time.
https://time.com/nextadvisor/investing/cryptocurrency/bitcoin-price-increases/After creeping above $40,000 earlier in the week, Bitcoin’s price fell down even further Friday to $38,300.
Several factors — such as rising inflation, geopolitical crises, and change in monetary policy — continue to drive extra short-term volatility to the crypto and stock markets. The crypto market has increasingly tracked the stock market in recent months, which makes it even more intertwined with global economic factors.
Minutes from the Fed’s March meeting last week showed its plan to shrink its balance sheet by $95 billion each month to combat inflation. The March consumer price index, which measures changes in the cost of food, housing, gasoline, utilities, and other goods, rose by 8.5% from a year ago — the largest inflation surge since 1981. The war in Ukraine also continues to contribute to increased market volatility.
“Like all risk assets, crypto prices this year have been disproportionately driven by the war in Ukraine, inflation, and the outlook on Fed Policy (particularly the taper schedule),” says Ben McMillan, CIO at IDX Digital Assets. “So while we’re seeing crypto prices at relatively attractive prices on a longer-term outlook, there could still be considerable downside in the near-term.”
