Cryptocurrencies are affected by the same fears

It is important to understand that citizens who purchase in order to bypass restrictions on currency transfers, most often use OTC mechanisms, and, therefore, have no serious impact on the quotes. It is worth highlighting two more important points: although the current situation has led to increased interest in cryptocurrencies, but to speak of its mass character is still not necessary, and those who are going to use digital assets for financial transactions, most resort to the help of , like USDT because of their stable rate.

Cryptocurrencies are influenced by the same factors as other assets: the Fed's tightening of monetary policy, which contributes to dollar appreciation against other currencies of developed countries, as well as concerns about problems in the global economy. Risk appetite is going down, while investors prefer safe havens like American treasuries, whose yields are actively growing.

It's not just the hawks at the Fed, but also the COVID-19 epidemic in China, which is contributing to the paralysis of the economy, the record growth rate of food prices in the U.S. and much more. The most interesting that the need for tough measures is also understood by the extremely moderate president of the FRB of Chicago, who hinted at a possible increase in May by 50 basis points at once and bringing it to 2.5% by the end of the year. Recall that back at the beginning of the year was projected only a figure of 2%.

In such conditions the global correction has all chances to continue. In the absence of serious reasons for optimism, BTC has all chances to move towards $31 thousand per coin, where, after a breakdown, the next wave of downward movement can begin.