Weekly Overview – Bitcoin, Ether – Week 46

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The cryptocurrency Bitcoin continues to move away from its recent all-time high. The value dropped in places to below $56,000 on the night of November 19, 2021, after the currency had been worth $68,744 on November 10, 2021.

Bitcoin’s price fell quickly after this new all-time high and slipped to around $60,000 just over a week later. Bitcoin then fell further on November 18, 2021, and by now the price loss is quite significant.

Parallel to Bitcoin, Ether has also lost value and is currently very significantly below the most recent all-time high of November 5, 2021, when the currency reached 4,601 US dollars. At the moment, Ether has even slipped below 4,000 US dollars.

It is also possible that measures taken by US President Joseph Biden will have an impact on the crypto market: Biden’s latest infrastructure package includes a reporting requirement for assets above USD 10,000. In addition, Biden has indicated that he wants to regulate the crypto market more closely.

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The U.S. central bank also hinted at raising interest rates later this year. This could curb inflation and make fixed-interest investment assets more attractive.

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