Another sharp fall in the price of bitcoin

The value of the queen of cryptocurrencies fell by 7.7% this Friday morning.

While its price had stabilized and analysts thought it had bottomed out, bitcoin slipped again this Friday morning. At 6:30 a.m., the price of the queen of cryptocurrencies fell by 7.7%, leading the value of a token to 21,404 dollars (21,218 euros). It recovered slightly in the hours that followed but remains volatile.

If it is difficult to explain what justifies this fall, it could be a statement by James Bullard, an official of the American central bank. He plans to raise the key interest rate again in order to exert “significant downward pressure on inflation“.

Bitcoin’s swings have become very predictable in recent months. The value of virtual currency is correlated to the macroeconomic environment: the health of the Nasdaq, variations in inflation and central bank policies cause the price of the token to rise or fall.

Ether, the second most popular cryptocurrency is experiencing a similar pullback. Its price fell to 1,742 dollars (-5.58%).

SEE ALSO – The Central African Republic adopts bitcoin as legal tender


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