SMACIN GRACEFULL TEAM Bitcoin drops below $20,000 over concerns on Fed rate hikes The volatility has come amid uncertainty about the path and magnitude of Fed rate hikes & effect on riskier assets. ADVERTISEMENT Bitcoin extended its drop below $20,000 on Monday as part of a wider cryptocurrency-market retreat, amid concern about the Federal Reserve’s rate-hike path. ADVERTISEMENT The largest token fell as much as 2.3% on Monday to $19,527. That’s on course for a fifth straight day of declines, coming after US stocks fell on Friday following Fed Chair Jerome Powell’s speech at the Jackson Hole conference. The wider crypto market retreated Monday, with the MVIS CryptoCompare Digital Assets 100 Index dropping as much as 2.5%. ADVERTISEMENT “Money is flowing out of risky assets. Crypto followed the sharp adjustment of the U.S. stock market” af

SMACIN GRACEFULL TEAM Bitcoin, crypto market dips on anticipated interest rate hike As traders get ready for the busiest week of corporate earnings and learn more about potential future Federal Reserve interest rate hikes, the majority of crypto assets, including Bitcoin, dipped on Monday after a favourable week for the major averages. ADVERTISEMENT Investors anticipate a jam-packed week of earnings next week, which will feature reports from Alphabet, Amazon, Apple, and Microsoft, as well as other key tech firms, keeping an eye on the cryptocurrency market. ADVERTISEMENT On Wednesday, the Federal Reserve will wrap up its two-day policy meeting. Most economists anticipate a three-quarter point increase. ADVERTISEMENT What you should know At the time of writing, the flagship crypto was about $22.8K, down 1% for the day. On Wednesday, Bitcoin broke

Despite bitcoin’s violent sell off, Microstrategy CEO Michael Saylor is holding firm. The bitcoin bull said he’s in it for the long term and his strategy is to buy and hold the cryptocurrency. SMACIN GRACEFULL TEAM Microstrategy chief: 'Bitcoin is going to go into the millions' AD “There's no price target,” Saylor said. “I expect we'll be buying bitcoin at the local top forever. And I expect bitcoin is going to go into the millions. So we're very patient. We think it's the future of money.” AD AD Saylor said bitcoin has sold off with other risk assets like stocks as the Federal Reserve has moved to raise interest rates, and investors have sold off riskier assets or assets with valuations that had soared. That, Saylor said, is separate from the meltdown of stablecoin TerraUSD and its sister token Luna, which he thinks will accelerate efforts to regulate