Bitcoin is priced at $16,600 due to global effects
Cryprocurrencies have been having hard time due to many reasons including global effects. Here are all the details.
In the crypto money market, Bitcoin has gone down slightly with the effect of global markets from the $16,800-17,000 band, which it has been watching for a long time, and is currently priced around $16,600. Ethereum also came under the $1200 band, which it has been on for a long time, and is finding buyers in the $1195 region in the morning. Global markets fell yesterday due to the influence of China and the higher-than-expected housing prices in the USA. The S&P 500 and Nasdaq indices retreated 0.4% to 1.5%, respectively.
Bitcoin is priced at $16,600 due to global effects
China, after the very rising Covid cases recently, lifted the restrictions by putting the economy in the foreground and put health in the second place. However, market data from China continues to be bad and economic activity does not seem to meet expectations in the first days despite the opening. In addition, Tesla's announcement that it will temporarily stop production in Shanghai brought along demand concerns and we saw that the risk appetite for asset classes decreased all over the world.
Today, the pending home sales index in the USA will be followed. After the housing prices, which were higher than expected yesterday, today's data may be a negative surprise and increase the activity on the markets.
