BTC recorded its 14th day in a row below the $20 thousand price and surprisingly remains stable despite the ongoing turmoil of traditional markets.
For several days now, the main cryptocurrency has been trading at an average of $19.1 thousand, while ETH showed a slight increase in the range of 1.5%.
The historically volatile crypto market remains resistant to speculation about the plans of the US Federal Reserve System. While the markets are waiting for a 0.75% increase in the key rate, the analysis shows that traders estimate a 50% probability of a smaller increase in the key rate. Officials say that reducing the projected change in the key rate is quite a realistic scenario.
The turmoil in traditional markets also occurred against the backdrop of political news from the UK and steps by the Japanese government to support the weakening yen. It is curious that the dynamics of changes in the value of BTC over the past month is almost identical to the volatility of the UK currency.
Thus, traditionally stable long-term investments, such as government bonds, experience sharp price fluctuations and lose their value. Investors considering investing in the long term may well turn their attention to cryptocurrencies and digital assets.