Cryptocurrency market devastation ,continued decline in 2022

Preparations for raising interest rates by the US Federal Bank and rising cases of Omicron led to a sharp decline in all cryptocurrencies including bitcoin  Cryptocurrency prices have broken 10% so far in 2022. Bitcoin has fallen from an all-time high of $68,990 (Rs 51.05 lakh) on November 10 to $ 41,012 (Rs 30.48 lakh).  That is, within two months, bitcoin has broken more than 20 lakh rupees.

Broken Price Cryptocurrency broken by 5 to 15% in 2 days This is the lowest level of bitcoin since September 2021.  Earlier on September 22, bitcoin had come down to Rs 29.74 lakh i.e. $ 41,000.  On Thursday, the price of bitcoin was down by up to 12%, while on Friday also its prices fell by 6%.  All cryptocurrencies have lost 5 to 15 percent in two days.

Therefore the fall: The US Fed predicted in the meeting that interest rates could go up due to inflation concerns and bitcoin is under pressure.  Due to this, investors are staying away from risky assets.

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