Bitcoin Dips to Another Low, Second Time This Year
The price of Bitcoin (BTC) took a nosedive from $44,591.80 which was on 15 Feb 2022 to $40,730.17 as of 18 Feb 2022. Once again proving the volatility of cryptocurrency. Prior to this, the worst drop for 2022 occurred on January 24, 2022, when the price fell to $35,070.10. Since the drop, it was slowly recovering when Bitcoin hit yet another low. Bitcoin as of 18 Feb 2022 is down by -7.12 %.
Markets are presently assessing rising European tensions as Russia maintains its confrontation with Ukraine.
Edward Moya, who is a chief market strategist at OANDA recently cited that “Wall Street is feeling very jittery as it looks to the left and sees intensifying geopolitical risks with the Ukraine situation and then it looks to the right and sees the potential for aggressive Fed tightening.”
The lowering of the Bitcoins price and the overall geopolitical situation once again has left every crypto stakers vulnerable.