Why is bitcoin crashing? Here’s everything to know

Published by
NJ.com

Bitcoin fell below $23,000 on Monday, marking the lowest value the cryptocurrency has hit since Dec. 2020. Here’s what you need to know. The cryptocurrency has taken a nosedive mostly because investors are dumping cryptocurrencies as a whole amid rising inflation and the U.S. Federal Reserve’s plan to hike interest rates this week. Another reason for bitcoin’s drop: its link to stocks and other risk assets. Because of the market’s current climate, experts say a recession could be on the horizon. “Since Nov. 2021, sentiment has changed drastically given the Fed rate hikes and inflation manageme…

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