Cryptocurrencies: Bitcoin hits a two-month low

On Friday morning, Bitcoin was trading around $36,485, almost 8% lower than the day before. Overnight, it approached $35,700, the lowest since the start of the armed conflict between Russia and Ukraine in late February. As early as Wednesday, it was still trading at $40,000.

Bitcoin’s first competitor, Ethereum, was worth $2,745, down 7% from the previous day, while solana, polka dots or avalanches are down double digits in the last 24 hours.

Analysts say the decline is due to the fact that several central banks, especially the US and UK, are in the process of adapting their policies to combat runaway inflation.

Experts say rising interest rates are unfavorable for cryptocurrencies and risky investments in general, as it makes fixed income alternatives more attractive.


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