New York, Dusseldorf The turbulence on the crypto market is getting stronger: Over the weekend, Bitcoin fell below the $35,000 mark, its lowest level since last July. Cryptocurrencies from the second and third row lost up to 30 percent within 24 hours.
The Handelsblatt provides answers to the most important questions about the sale.
What are the reasons for the rapid fall in prices?
The most important reason for the sell-off is the upcoming change in monetary policy by the US Federal Reserve (Fed). The next meeting is on Wednesday – then the monetary policymakers around Fed boss Jerome Powell could publish details on the further strategy.
Economists expect the Fed could start raising interest rates and shrinking its balance sheet as early as March. This would deprive the market of liquidity.
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