Bitcoin was worth $44,000 on March 2, 2022. This was nearly 20% less than it was two weeks before that day. The price of the most popular cryptocurrency began to fall on May 5, not long after the Federal Reserve stated that it would fight inflation without raising interest rates further. Several factors, including rising inflation, geopolitical crises, and shifting monetary policy in the United States, continue to make the crypto and stock markets more volatile in the short term. In recent months, the cryptocurrency market has resembled the stock market. This has increased its ties to the global economy. Bitcoin’s price was below $40,000 on March 5. This was before President Joe Biden signed a broad executive order on cryptocurrencies, causing the price to rise by 10% to more than $42,000. Biden’s executive order directed government agencies to develop a plan for regulating cryptocurrencies. He also directed them to consider issuing a central bank-issued digital currency. It was the White House’s first significant step toward regulating cryptocurrencies. By the end of March, the price of Bitcoin had remained above $45,000 and had frequently surpassed $48,000. Bitcoin’s Best Price This Year Bitcoin’s best day so far this year was January 2, when it was nearly $48,000. However, it has lost 40% of its value since it reached a price of over $68,000 on November 10. Despite a significant drop in the price since November, its new hig...
