Bitcoin worth quarter less in a few days | Financial

This is partly due to investor concerns about rising tensions between Russia and the West over Ukraine. Fears of faster rate hikes by the US central bank against high inflation would also play a role. When interest rates rise, investors tend to move out of riskier investments. This also includes cryptocurrencies.

In the case of digital coins, the European Securities and Markets Authority (ESMA) also wants to ban the mining of bitcoins in the European Union. This also applies to the central bank of Russia, which wants to do so in order to guarantee financial stability. Mining, the digital addition of new cryptocurrencies, has been banned in China since last May.

Half a trillion dollars in smoke

It all resulted in more than half a trillion dollars being lost in a short time in the entire crypto market, which now accounts for about $1.5 trillion, converted more than $1300 billion. Bitcoin stood at about $33,000 on Monday, its lowest level since July. Since its peak in November, its value has fallen by more than 50%.

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