Cryptocurrency exchange operator Huobi expects that bitcoin is likely to depreciate this year, as markets react to the US Federal Reserve dialing back on asset purchases.Joe Raedle/Getty Images Huobi writes that bitcoin will likely depreciate this year in response to the Fed's tapering in November. Tapering could cause global liquidity to shrink and affect bitcoin's price. Bitcoin's price hit a record high in November last year and prices have since eased. Cryptocurrency exchange operator Huobi expects that bitcoin is likely to depreciate this year as markets react to the US Federal Reserve dialing back on asset purchases.The Fed started in November to slow down its purchases of new assets, including bonds and mortgage-backed securities.
One Of The World's Largest Crypto Exchanges Foresees Bitcoin Entering A Bear Market This Year
wsoon@insider.com (Weilun Soon), Business Insider
Thu, 01/20/2022 - 9:27pm
Topics: global blockchain industry overview and trends 2020-2021 annual report, joe raedle/getty images tapering cryptocurrency huobi research institute hong kong seychelles blockchain association singapore business insider huobi federal reserve november bitcoin fed huobi it year largest crypto bear market price assets depreciate operator exchange markets dialing asset react expects including released trading eased record high
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