Crypto shares decrease while Bitcoin falls to a new six-month low

Bitcoin sank to a new six-month low on Monday, left the digital token 50 percent under its November high and pulled the shares down from companies whose assets are bound to the cryptocurrency market.

The price of the digital coin fell by 9 percent in afternoon trading in Europe to $ 33,307, the lowest level since mid -July. Although it is still the largest cryptocurrency in the world according to the market value, Bitcoin has lost more than half of its value since its maximum of almost $ 69,000 last year.

The broader market for digital assets is also under strong sales pressure, with an FT-Wilshire index the five most important digital coins without Bitcoin in 27 percent in 2022.

The strong burglaries on the cryptoma markets have had an impact on the US stock market. A basement compiled by Goldman Sachs with cryptocurrency -related shares lost around a third of its value in 2022. Coinbase, which was listed in the USA, fell by 13 percent on Monday, while Microstrategy, a software company that invests heavily in Bitcoin, fell a similar range.

"It looks like a crash for the time being," said Michael Everything, global strategist at Rabobank, in a note on Monday.

The sale fell together with a broader reayer -of -all -wing investor from speculative assets, while they prepare for the fact that the central banks around the world curb their economic stimulus programs. The expectation of higher interest rates makes more risky systems less desirable because they increase the returns that investors can achieve from keeping first-class securities such as US state bonds.

"It is an environment in which you should be scarce at least another month. Shorting refers to betting against shares in a company, while "going" is the opposite.

"The strange thing about crypto and Bitcoin," said Joel Kruger, market strategist at the LMAX group, "is that they are assets that have arisen from a rejection of the existing system, and still benefited from this system and the monetary-political incentives that have led to an under-playing inflow in risk investments.

The fascination of cryptocurrencies was further damaged by steps by regulatory authorities around the world to tighten the rules for trade and advertising for digital assets.

The Russian central bank proposed last week to prohibit all cryptocurrency operations in the country, and said that the value of digital coins as in other "financial pyramids" "is largely supported by the demand for new market participants".

The British Financial Conduct Authority said last Wednesday that she hopes to take misleading crypto advertising after taking steps to strengthen consumer protection in Spain, Singapore and Italy.

The share of Microstrategy, led by the well-known crypto bull Michael Saylor, had broken up by more than 17 percent on Friday after the US stock exchange supervisory authority Securities and Exchange Commission had raised an objection to the exclusion of course fluctuations at Bitcoin from his adapted accounting measures.