Bitcoin prices fall to lowest in months after US Fed remarks

  08 January 2022    Read: 585
Bitcoin prices fall to lowest in months after US Fed remarks

Bitcoin prices have fallen to their lowest level in months following remarks from the US Federal Reserve.

The crypto-currency dropped in value from $47,000 (£34,700) earlier this week to less than $42,000 (£31,000) per digital coin.

It follows minutes from a meeting of the Federal Reserve, which suggested it may raise interest rates.

Political events in Kazakhstan have also raised concerns about the network's capacity.

Because of its global and decentralised nature, attributing a rise or fall in the price of Bitcoin to a single cause is difficult. But many commentators have pointed to the release of the Federal Reserve's December meeting notes as one factor.

The minutes suggest that America's central bank might raise interest rates sooner than some had anticipated, and sell off some of its assets.

 


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