BUSINESS

Bitcoin Prices Tumble Amid Market Uncertainties

Bitcoin prices have tumbled to their lowest level in months following remarks from the US Federal Reserve.

The cryptocurrency dropped in value from $47,000 earlier this week to less than $42,000 per digital coin.

This move come minutes after a meeting of the Federal Reserve, which suggested it may raise interest rates.

The fall in prices has seen Bitcoin hitting its lowest price since September 2020, down from a November peak of more than $60,000.

The political upheavals in Kazakhstan have also raised concerns about the network’s capacity — a significant percentage of Bitcoin mining occurs in that country.

Other cryptocurrencies have also seen price falls.

Readers Bureau

Edited by Jesus Chan

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