The European Central Bank is tightening as well to combat surging prices, with rates at levels not seen since the Great Financial Crisis in 2008.
In addition, central bank tightening can also lead to a decline in bitcoin prices."
"There's no doubt that bitcoin's price as well as wider crypto market movements are directly impacted by the US Federal Reserve and central bank policies.
"We can therefore expect a continued disenfranchisement with the US dollar and uptake of bitcoin and other crypto assets.
This will be reflected in price and we can surely expect upward price movements in bitcoin, even in 2023," Caselin told Insider.
Persons:
Bitcoin, —, Tacking, Christine Lagarde, Birgham Santos, Santos, Ben Caselin, bitcoin, Caselin
Organizations:
Service, Traders, Federal, European Central Bank, Lama, US Federal Reserve
Locations:
solana, bitcoin