''The
Although bargain hunters will be sniffing around, nervousness is still largely the sentiment rippling through the markets, as concerns are growing that higher infection rates will bring about a fresh economic slowdown. It isn't just the spread of new variants causing jitters, rising tensions between the US and
Bitcoin has not been immune to market volatility and is another casualty of the sell-off across financial markets. Investors edged away from crypto wallets after stocks plunged, with Bitcoin dropping below
As crypto holdings dropped, demand for government bonds have risen, with yields on 10 year treasuries falling to their lowest level in five months. In such a volatile market it seems more investors are heeding warnings from financial watchdogs, that they could risk losing all their money if they hold risky crypto assets.
Other traders are likely to be watching closely, to buy into assets they consider a cheap price, confident in the longer term outlook for crypto. But this sell off also comes as speculation mounts about what impact the development of central bank digital currencies will have on the crypto world, and whether the establishment of CBDCs will dent the long term crypto use case. The intensifying crackdown in some parts of the world, with Indonesian authorities destroying bitcoin mining factories using energy illegally, has again shone the light on crypto as a magnet for criminals.''
NOTES FOR EDITORS
Media Contact:
susannah.streeter@hl.co.uk
07527 384747
@StreeterNews
About us
Over 1.6 million clients trust us with £132.9 billion (as at
Our purpose is to empower people to save and invest with confidence and help them build their financial resilience over the long-term. We provide a lifelong, secure home for people's savings and investments that offers great value and an incredible service making their financial life easy.
Clients rate our service highly, 90% say we are good, very good or excellent. Our expert research has been helping investors for almost 40 years through thick and thin.
In 2018, we also launched Active Savings, an online cash savings platform that lets savers move money easily between partner banks and building societies to help their money work harder without the hassle.
Find out more about HL and our history, what it's like to work with us, and how we support our community, including our response to the COVID-19 pandemic.
Press centre: https://www.hl.co.uk/about-us/press
Investor relations: www.hl.co.uk/investor-relations
.
(C) 2021 M2 COMMUNICATIONS, source