(London) The price of bitcoin fell to its lowest in more than nine months on Monday, weighed down by investor risk aversion and carried other cryptocurrencies in its wake.
Posted at 8:07
After a year of 2021 of all records, bitcoin is experiencing difficulties in 2022: down 4.3% on Monday to 32,762 dollars around 7:25 a.m., it has lost almost a third of its value since the New Year and more than 50% since its all-time high.
“There is a correlation with risky assets which is obvious, particularly the NASDAQ”, the American stock index where many technology companies are represented, comments Neil Wilson, analyst at Markets.com.
However, these assets are suffering from the prospect of a tightening of monetary policy in the United States, as the abundant liquidity that had fueled ever-higher valuations is drying up with the rate hikes of the United States Federal Reserve (Fed).
“After an early rebound in the first quarter, April saw the return of bearish bets with risk aversion” for bitcoin, confirms Victoria Scholar, analyst at Interactive Investor, who lists the dangers hanging over the economy. : war in Ukraine, confinements in China…
And other cryptocurrencies suffered in the wake of bitcoin: Ethereum’s value fell 7.4% to $2,382 on Monday.
According to the Coingecko site, which lists the valuation of more than 13,000 cryptocurrencies, the market now represents just over 1,500 billion dollars, against more than 3,000 billion dollars at its peak last November.