With bitcoin's price plummeting and the crypto industry currently stagnant, many investors are wondering whether buying bitcoin is still a viable investment option. Let's take a closer look at it.
Since last week, when the Federal Reserve announced a 50 basis point rate hike, Bitcoin BTC, an all-risk asset that includes encrypted mining and technology equities, has been in free slide.
The encrypted winter is a first for digital assets, and bitcoin is thought to have lacked sufficient power as a result of earlier federal reforms between 2016 and 2019.
According to market analysts, the US central bank's severe steps to manage inflation could lead to interest rates increasing beyond 3% by early 2023.