CryptoCurrency

  • CryptoCurrency

    Bitcoin Falls to Half Its Peak as Investors Shun Risk

    The price of Bitcoin fell 5.3% to $33,879 on Sunday afternoon and is now about half its all-time high. It wasn’t immediately clear what had triggered the decline, but the cryptocurrency’s market tumble over the weekend echoed the broader stock market’s decline last week as investors moved away from riskier assets. Bitcoin, the largest cryptocurrency, hit a peak price of $67,802.30 in November 2021. The Federal Reserve’s announcement Wednesday that it was raising interest rates by a half point, the largest hike since 2000 with additional increases expected this summer, sent the Dow Jones Industrial Average on Thursday down 1,063 points, or 3.1%. The S&P 500 dropped 3.6%, and the…