https://mappinglondon.co.uk/2023/rq4aia4 Cryptocurrencies continued their dramatic slide on Saturday, with bitcoin losing nearly half of its value since hitting its November high.
The losses came on the heels of a Thursday dip in the stock market. Cryptocurrencies and traditional stocks have been falling in tandem this month, with investors concerned about how anticipated Federal Reserve interest-rate increases will affect the market.
A common investment case for bitcoin is that it serves as a hedge against rising inflation as a result of government stimulus, but analysts are saying the risk is that a more hawkish Fed may take the wind out of the crypto market’s sails.
https://www.omnomnomad.com/2023/12/20/ejgr56ourj Russia’s central bank proposed banning the use and mining of cryptocurrencies earlier in the week. Officials argued it posed threats to financial stability, citizens’ wellbeing and its monetary policy sovereignty. U.S. authorities have also been clamping down on certain aspects of the market.
https://www.thiswildlifeofmine.com/cxwmdpxg6e —CNBC’s Weizhen Tan contributed to this report.