Investors have witnessed a bloodshed in cryptocurrency markets in recent weeks, as crypto struggles to find a direction amid a global selloff in financial markets. The spike in coronavirus cases, driven by omicron, are causing havoc in stock markets, prompting investors to reduce their exposure to risky assets. Furthermore, the central banks’ monetary tightening plans are complicating an already bewildered market.
In the midst of the turmoil, digital coins have taken a massive beating, with Bitcoin (BTC) trading below $50,000 after reaching record highs of nearly $68,000 in November. It is currently hovering around $48,000 as of this writing. Despite some short-term volatility, the long-term future outlook remains positive as large institutions continue to show interest in blockchain, and people understand the technology’s benefits better than ever.
Why is Bitcoin’s Price Falling?
The rise of covid cases, along with central banks becoming more hawkish in order to fight inflation thanks to supply chain bottlenecks and rapidly rising demand, are both currently causing instability in financial markets. As of now, countries like the Netherlands…
