The fall in the bitcoin exchange rate was explained

Economist Grigoriev linked the fall in the bitcoin exchange rate with the US Federal Reserve’s bid for bitcoin:

The fall of bitcoin is greatly influenced by the increase in the key rate by the US Federal Reserve System (FRS). So the change in the exchange rate of the cryptocurrency in a conversation with the “Tape.” explained Candidate of Economic Sciences, financial expert Vladimir Grigoriev. He also spoke about the prospects of investing in bitcoin.

“For several months now, the US Federal Reserve has been gradually raising the key rate. This will lead to the fact that traditional financial instruments denominated in dollars become more profitable. Therefore, some of the investors who used to go into cryptocurrencies due to the low profitability of traditional instruments are now starting to return to this market,” the specialist said.

As long as the Fed continues its policy of increasing rates, the process of [bitcoin’s depreciation] will continue and further, Vladimir Grigorievkandidate economic sciences, bitcoin has the potential for a possible rebound and growth.

But it should be borne in mind that the cryptocurrency market is very high-risk, which is different from any other, warned Vladimir Grigoriev.

If, with respect to securities and gold, it is possible to talk with a considerable degree of confidence about changes in their value, then confidence is lower. You can invest, but understand that the risk is high, Vladimir Grigoriev Candidate of Economic Sciences”This is a very unstable segment of the financial market by a combination of factors.

Cryptocurrency has no rules at all except that you can sell what you bought for more than the initial price. All. It is impossible to evaluate in terms of fragmented actions like currencies or securities. Such jumps will be repeated,” the economist concluded.

The limit of the fall of the bitcoin exchange rate was named on July 12, 202219 August, the bitcoin exchange rate fell sharply by nine percent per day, which was the worst result in the last two months.

Its cost dropped to 21.4 thousand dollars.