Bitcoin, Ether, XRP, Cardano, Solana React To ECBs First Rate Hike In Over A Decade ⋆ ZyCrypto - BitcoinEthereumNews.com
BitcoinBitcoin, Ether, XRP, Cardano, Solana React To ECBs First Rate Hike In Over A Decade ⋆ ZyCrypto07 / 21 / 2022बिटकॉइन एथेरियम समाचार विज्ञापन n n n The Eurozone is inundated with several issues ranging from geopolitical risks arising from the ongoing commotion in Ukraine, political turmoil in Italy, an extremely hot summer, an energy crisis, high food and commodity prices, a falling Euro against the dollar, high inflation, and possible recession. The Governing Council of the European Central Bank (ECB), in its mandate of मुद्रास्फीति से लड़ना and protecting the value of the Euro, has hiked its three key interest rates for the first time in over a decade by 50 basis points. Rising interest rates make crypto-assets less attractive than interest-earning investments like savings accounts that offer higher returns at lower risk. Meanwhile, Bitcoins correlation to the stock markets is currently at an all-time high, with Bitcoin and stock prices moving in tandem. Higher interest rates negatively affect stock prices, except in the financial sector. The argument of Bitcoin being a hedge against inflation is also being challenged by the current low price of Bitcoin when inflation is at its highest in over four decades. Crypto assets are gaining popularity around the world and