Bitcoin's price hits 1-month low as US stock prices fall
January 5, 2022, 4:35PM EST
1 min read
Bitcoin's price fell to a one-month low on Wednesday amid a broader decline across stock markets.
The macro picture was a cloudy one as US stock markets closed Wednesday. The Federal Reserve, in newly-published minutes, indicated that it may raise interest rates sooner than previously expected, as noted by Bloomberg. At the same time, the Fed floated the potential for a balance-sheet reduction in the wake of such moves.
According to data from TradingView, bitcoin's price hit a low of $43,879 on Coinbase.
Today's price decline represents the lowest figure since December 4, when the price of bitcoin fell to $42,333 on Coinbase, as shown in the chart above. Bitcoin's all-time price high occurred on November 9, reaching the $69,000 mark on Coinbase.
Today the always-on demands of online markets have to be matched with the ability to access opportunities instantly and with no limits. Historically correspondent banks would move large sums of money for those needing to transfer funds while creating bottlenecks of unnecessary friction.
Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.