Cryptoverse: Buying the dip? Bitcoin’s a rates rookie

Published by
Reuters UK

By Lisa Pauline Mattackal and Medha Singh (Reuters) – Bitcoin has scant experience with rising interest rates, posing perils for investors looking to capitalize on its dramatic drop. The cryptocurrency has tanked along with other risk assets such as tech stocks after the Fed amped up rates last week, sending them on a trajectory that’s expected to pass 3% early next year. Bitcoin was an awkward child on the fringes of finance during the Fed’s previous tightening cycle, from 2016 to 2019, and was barely correlated with stocks. The last time interest rates hit 3%, in 2008, it was but a gleam in …

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