Where Will Bitcoin Dip to Next?

Since their all-time highs in 2021, Bitcoin and Ethereum have fallen by around 50 percent. 

Bitcoin has been compared to the Nasdaq, which has also seen a decline in the stock market, by Wall Street analysts. 

On the other hand, the larger markets are alarmed for a variety of reasons.

Since its all-time highs in November of 2021, Bitcoin has lost more than half of its value due to the stock market sell-off.

Investors in cryptocurrencies will be keeping an eye on Ross Mac on Monday, May 9.

Risk assets are in free decline as the Federal Reserve raises interest rates in response to rising prices and the Fed's refusal to accommodate the market. 

Since July of last year, Bitcoin has fallen to its lowest level. How long will it be until the bleeding stops?

Why is Bitcoin traded as a tech stock and not a hedge against inflation? Is it possible that many IT firms have Bitcoin on their books?

Alternatively, could asset managers see a spike in the number of redemptions and margin calls from investors, forcing them to sell Bitcoin?

The Consumer Price Index (CPI) for the United States will be issued on Wednesday, according to the Bureau of Labor Statistics (CPI).

We might see an overall market bounce if inflation shows any indications of peaking. As a result, the price of Bitcoin might go as low as the 29,000 mark.