Bitcoin Loses Ground as Risk Aversion Takes Over the Markets – MENAFN.COM

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Bitcoin Loses Ground as Risk Aversion Takes Over the Markets – MENAFN.COM

Bitcoin markets have been suffering from volatility since April due to multiple reasons, chief among them the contradictory signals from both institutional investors and governments regarding cryptocurrency adoption. Most recently, volatility has been linked with a dwindling appetite for risky assets, among them cryptocurrencies and global equities. "There's been a broad sell-off in global markets, risk assets are down across the board," commented an analyst at Amber Group, adding that there are still concerns regarding the quality and strength of the economic recovery. Despite economies reopening and data suggesting that they are recovering, there are still downside risks that need to be faced, especially considering how quickly the Delta variant of the coronavirus is spreading. This has caused fear of slowing economic growth and eventual closures. Governments are now trying to vaccinate theirs populations against the virus, with 3. 66 billion vaccine doses having been distributed among the world's population and 1. 01 billion individuals now fully vaccinated, accounting for 13% of the world's population. Advertisement Recent volatility has made some great Bitcoin trading opportunities Get in now! Another important factor is the regulatory scrutiny that Bitcoin miners and distributors have been facing from different governments, particularly the Chinese government,