Bitcoin and cryptocurrency prices have fallen sharply this week, with the combined value of the crypto market losing almost $1 trillion since its peak in November.
The bitcoin price has fallen to lows of just over $45,000 per bitcoin, a more than 30% decline from an all-time high of almost $70,000 last month. Meanwhile, other major cryptocurrencies, including ethereum, Binance's BNB, solana, cardano and Ripple's XRP have also struggled—all dropping double-digit percentages from their highs.
Now, as bitcoin, ethereum and other cryptocurrencies fall in the face of global central bank policy tightening along with global stock markets and other assets, the chief executive of the U.S.-based Kraken crypto exchange has warned he thinks the bitcoin price could fall dramatically in 2022.
