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The world's most valuable cryptocurrency was down 5% Monday after plunging again over the weekend. Bitcoin prices have now plummeted nearly 15% in the past week. At a price of just below $32,000, bitcoin is more than 50% below its record high of near $69,000 from late last year and at its lowest point since July 2021.Other cryptocurrencies, sometimes referred to as altcoins, have been hit hard too.
The US Dollar Index is now trading near its highest level in twenty years. That's bad news for bitcoin too, as many crypto backers point to dollar weakness as a bullish sign for digital currencies.As rates continue to climb, some crypto skeptics think the selling in bitcoin has only just begun. The Federal Reserve is starting to pull back on monthly bond purchases and other stimulus which could be bad news for all sorts of speculative assets."The dramatic reversal of Fed liquidity ...
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