Bitcoin is falling! Why can this still go on?

The price of Bitcoin is down almost 4.5% in the last 7 days. Falling back below 20,000 dollars, this fall may not be over and could get worse! We take stock of the story and possible market direction in the coming weeks!

Big fix for the king of cryptocurrencies!

Bitcoin is in the red and it could last. In the past month, the crypto leader has known drop more than 10%. After a green start to August, the asset suffered greatly from the macroeconomic context. At the time of writing, one BTC is trading at $18,890.Bitcoin is falling!  Why can this still go on?

On Wednesday, the US Federal Reserve, interest rates raised 75 basis points. New increase for fight against inflation still very present on the other side of the Atlantic but also in Europe. Although signs of improvement are visible in some countries, the situation is still tense in most economies.

In fact, there is inflation 8.3% in the United States and of 9.1% in the European Union. Central bank key rates should therefore remain unchanged students many more months. This only emphasizes the pressure on risky assets first of all crypto. The ongoing war and escalation of tension, with the mobilization prescribed on the Russian side, does not help the situation in any way.

Since the beginning of 2022, Bitcoin is suffering. September is no exception and BTC is in now down more than 55% since the beginning of the year. He reached the $22,500 shortly before the Merger but has since fallen by more than 14%.

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Fall far away?

Most indicators seem to point to a continue this downward trend. The general context does not call for hope either. So what next for Bitcoin and the crypto market?

On the macroeconomic side, observers expect interest rates to rise further until mid-2023. Until then, it is difficult to expect a recovery in the crypto market. This is clearly the end of the rise in interest rates according to lower inflation in the United States where it is the objective of the Fed bring inflation below 2%.

Energy prices are starting to slow down, starting with oil, which has been falling in recent weeks. They had broken all records during the Russian invasion of Ukraine. Relief is a good sign for the global economy. Another factor of hope, the shipping cost from China which falls. The second one is i reduction don for the first time since December 2020. A sign that should benefit many players in the global economy.

Towards greater adoption of the blockchain?

If we zoom in on the crypto ecosystem, the good news is piling up the last few weeks. The day before yesterday is the world’s largest technology exchange, the Nasdaq, which announced that it offered a crypto-asset custody service. Sign large and encouraging your future cryptocurrencies.

Earlier, the world’s largest investment fund, BlackRock, had launched its own private fund in Bitcoin. This is not the first big institutional player to dive into the crypto bath. Recently good banks Goldman Sachs They have revised their position on Bitcoin and crypto-assets.

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A recent study shows increased participation of companies as Google or Samsung in the field of Web3. A fundamental trend that gives hope to the sector.

Perspective short term therefore at least cloudy. However, the global environment and recent announcements related to cryptocurrencies show that adoption is increasing of these technologies. You should not hide your face. Nothing is done yet and the blockchain industry is still in its infancy. infancy. However, the various announcements of participation, partnerships, investments from big companies and big institutional players give hope!


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Investing Press
Investing Press

we are passionate about science, new technologies, and web development and how to make money on the internet, we share with you tips, tutorials, guides, concerning the creation of blogs and everything related to Web 3.0 and of course the world of Cryptocurrency

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