Bitcoin has scant experience with rising interest rates, posing perils for investors looking to capitalise on its dramatic drop.
experience with rising interest rates, posing perils for investors looking to capitalise on its dramatic drop.
Bitcoin fell to US$29 731 on Tuesday, its lowest level since July 2021, after dropping nearly 12% last week, its worst weekly loss since January. Ether, the world’s second largest cryptocurrency fell to $2 360 on Monday, its lowest mark since February, and smaller coins, or “altcoins”, have sold off more aggressively.
It is not just crypto markets that are tumbling. Equity markets have also plunged as investors fear global central banks are willing to push economies into recession, if necessary, to rein in inflation.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin plunges amid global flight from riskier investmentsBitcoin slumps to a level last seen in July 2021, while Ether fell as much as 7%, Solana dropped 7.3% and Avalanche dipped 9.4%
Read more »
Bitcoin plunges amid global flight from riskier investmentsBitcoin slumps to a level last seen in July 2021, while Ether fell as much as 7%, Solana dropped 7.3% and Avalanche dipped 9.4%
Read more »
C.Africa's leap into bitcoin leaves its people bemusedThe CAR has just followed El Salvador in adopting bitcoin as legal tender, a currency that requires access to the net to be bought, sold or used.
Read more »
Another trophy for Siphiwe Tshabalala – but this time it’s for his skills off the pitch | DrumAnother trophy for Siphiwe Tshabalala – but this time it’s for his skills off the pitch | DrumMagazine
Read more »
Ncikazi on Pirates’ Confed semi away win against Ahli: ‘It’s only half time’Mandla Ncikazi has cautioned Orlando Pirates against complacency for the second leg of their Caf Confederation Cup semifinal against Al Ahli Tripoli at Orlando Stadium on Sunday, where Bucs will hold a 2-0 advantage from the first leg in Benghazi.
Read more »
Bitcoin plunges — could test $30,000 levelBitcoin’s decline could see the cryptocurrency drop as low as $30,000 (R485,000).
Read more »