Bitcoin
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$69,912.00 4.56066
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Ethereum
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$3,637.68 3.16132
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BNB
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$631.79 3.72506
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$160.41 5.50474
Solana price
XRP
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$0.4960420 2.751
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$0.0000231 5.68136
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Pepe
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$0.0000137 12.25847
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Bonk
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$0.0000303 8.53064
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Bitcoin
Bitcoin (BTC)
$69,912.00 4.56066
Bitcoin price
Ethereum
Ethereum (ETH)
$3,637.68 3.16132
Ethereum price
BNB
BNB (BNB)
$631.79 3.72506
BNB price
Solana
Solana (SOL)
$160.41 5.50474
Solana price
XRP
XRP (XRP)
$0.4960420 2.751
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000231 5.68136
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000137 12.25847
Pepe price
Bonk
Bonk (BONK)
$0.0000303 8.53064
Bonk price
Bitcoin
Bitcoin (BTC)
$69,912.00 4.56066
Bitcoin price
Ethereum
Ethereum (ETH)
$3,637.68 3.16132
Ethereum price
BNB
BNB (BNB)
$631.79 3.72506
BNB price
Solana
Solana (SOL)
$160.41 5.50474
Solana price
XRP
XRP (XRP)
$0.4960420 2.751
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000231 5.68136
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000137 12.25847
Pepe price
Bonk
Bonk (BONK)
$0.0000303 8.53064
Bonk price
Bitcoin
Bitcoin (BTC)
$69,912.00 4.56066
Bitcoin price
Ethereum
Ethereum (ETH)
$3,637.68 3.16132
Ethereum price
BNB
BNB (BNB)
$631.79 3.72506
BNB price
Solana
Solana (SOL)
$160.41 5.50474
Solana price
XRP
XRP (XRP)
$0.4960420 2.751
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000231 5.68136
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000137 12.25847
Pepe price
Bonk
Bonk (BONK)
$0.0000303 8.53064
Bonk price
SirWin
SirWin
SirWin

IFF economist comments on bad side of bitcoin

iff-economist-comments-on-bad-side-of-bitcoin
Edited by
News
IFF economist comments on bad side of bitcoin

Institute of International Finance (IFF) economist Robin Brooks has derided BTC’s lack of diversification as the asset continues to face strong resistance at the $28,000 level.

After the U.S. Fed announced on March 22 that it would raise interest rates by a quarter of a percentage point, the value of bitcoin dropped, bringing it back down to the level of $27,000. This represented the ninth straight time that interest rates were increased, and the second consecutive rise of a quarter point.

Bitcoin is showing “real diversification features today – to the negative,” according to the tweet by Robin Brooks. He joked about bitcoin’s diversification characteristics: “heads you lose, tails you lose.”

The statement infuriated many people passionate about bitcoin, and they began bashing Brooks in the comments section of his tweet.

On March 14, he was quoted as having previously expressed his disapproval of bitcoin, referring to it as “simply another bubble asset” and claiming that the cryptocurrency has “zero store of value function…zero diversification advantage,” and “zero returns.”

The current market situation

The most recent meeting of the Fed’s policy committee emphasized the resilience of the U.S. banking sector while expressing concern about the current crisis caused by the failure of several well-known institutions.

Crypto bulls’ dream of a dovish u-turn in the middle of the financial crisis were dashed when the Fed decided to keep raising interest rates even though this move was mainly by Wall Street’s predictions.

The price of bitcoin has seen significant amounts of fluctuation on many occasions. Recent events have contributed to surpassing the $28,000 threshold, bringing it near a year-to-date high.