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Undoubtedly, 2022 was one of many worst years for (BTC) patrons, primarily as a result of the asset’s value dropped by 65%. Whereas there have been some specific causes for the drop, such because the LUNA-UST crash in Might and the FTX implosion in November, a very powerful purpose was the U.S. Federal Reserve coverage of tapering and elevating rates of interest.
Bitcoin’s value had dropped 50% from its peak to lows of $33,100 earlier than the LUNA-UST crash, due to the Fed charge hikes. The primary important drop in Bitcoin’s value was as a result of rising market uncertainty round potential charge hike rumors in November 2021. By January 2022, the inventory market had already began displaying cracks as a result of growing stress of imminent tapering, which additionally negatively impacted crypto costs.
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