Inflation Fears Manipulate Bitcoin

Friday’s trading witnessed a strong fluctuation in the value of the digital currency Bitcoin, after it recorded during the past month the largest monthly decline ever.

The largest digital currency in the world rose by 11.3% in Asian trading today, reaching for a short period the level of 21 thousand dollars per unit, and quickly Bitcoin lost most of its gains and was traded at a price of 19.4 thousand dollars per unit, by eleven thirty in the morning in London.

And the Bloomberg news agency reported that Bitcoin lost 41% of its value over the past month, the largest monthly decline since the agency began recording digital currency tracking data in 2010.

Bitcoin’s volatility reflects the impending uncertainty about digital currencies, with investors trying to assess the extent to which central banks will go to tighten monetary policy to curb inflation, and what makes the situation more difficult for cryptocurrencies is the exposure of major players in the market, starting with the hedge fund “Three Arrows Capital” To Celsius Network Bank, a big mess due to the heavy selling in the market, which increases the chances of the continued decline of currencies.


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