What is happening with the price of bitcoin? Has it regressed? For what is this? The Bitfinex trading team shared with Cointelegraph en Español their views on the matter.
“Bitcoin has pulled back below $40,000 as traders seem to be waiting on the sidelines, amid slowing volume. Investors are increasingly concerned about the deadly combination of rising inflation and slowing growth -known as stagflation- that affects the economies”, they pointed out.
They then added: “This, coupled with the high levels of private debt, accumulated during the pandemic, has had a significant impact on risk asset valuations.”
“Although bitcoin is often correlated with risky assets, it is important to recognize its growing use, as the growth of the Lightning Network in the past year demonstrates,” they concluded.
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