By garretsmith on Skatehive
How come Bitcoin and other cryptocurrencies keep tumbling further and further down in price? It might just be the events around the globe causing this dip. In this essay, I will outline the reasons why cryptocurrency and other assets are plummeting rapidly. Russia And Ukraine War After Vladimir Putin announced a military operation in Ukraine, the price of bitcoin fell below $35,000. That’s a decline of more than 8% compared to a day earlier. CNN wrote, “The currency has lost almost half its value since its November high of $68,990 due to geopolitical tensions, the prospect of interest rate hikes by the US Federal Reserve, and curbs by some major economies on digital assets.” Fears of tighter monetary policy from the Federal Reserve, a military conflict in Russia, and simply being on the wrong side of the market, had stoked panic in the stock market early Monday. Then, investors bought the dip. The S&P 500 rose 0.3% after falling nearly 4% at one point during the day. It seems like ever