In an email to CoinDesk, Anthony Georgiades, co-founder of Pastel Network, a decentralized blockchain for non-fungible tokens (NFT), cryptos and Web3 technology, attributed bitcoin’s plunge under $30,000 to “converging elements,” particularly the looming prospect of an inflation-focused Fed continuing its diet of hawkish interest rate hikes. But he also noted a loss of public confidence in the dollar and banking system.
Source: https://www.coindesk.com/markets/2023/04/19/first-mover-asia-bitcoin-rally-stalls-above-30k-ether-hits-21k/?utm_medium=referral&utm_source=rss&utm_campaign=headlines