Business News Asia
Early bitcoin price movement at 6:40 a.m. in Asia (Dec. 21) shows a bounce back from yesterday’s low of the $45,000 mark. The BTC price is up 0.32% this morning to $47,036.69.
Bitcoin is moving in positive territory this morning. In contrast to the downward movement of the global stock markets, investors fear that the outbreak of the new type of coronavirus Omicron will severely affect the economic recovery.
Yesterday’s crypto market movement was also anything but positive with the major currencies all in the red. The announced liquidity cuts by the Fed will with high probability also hit the crypto markets. Many investors consider the crypto market as a speculation playground.
The Fed had announced last week that it would taper its QE program faster than previously announced. It will increase its tapering to $30 billion and aim to end the entire program around March. To this end, up to three interest rate increases are planned for 2022.
The Fed feels compelled to respond to the rapidly rising inflation and is therefore now trying to take a more aggressive approach. Crypto market participants should closely monitor the price movements to avoid losses.
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Tuesday, December 21, 2021