The cryptocurrency Bitcoin is close to posting its biggest quarterly loss in more than 10 years, due to central banks raising interest rates and investors fleeing risky assets.
According to Arabiya Net, Bitcoin is close to recording a quarterly loss of more than 55%, which is the worst since the third quarter of 2011.
This came at a time when the so-called stable coins are facing the risk of losing their correlation with the dollar, such as the USDD, which lost this correlation for several minutes yesterday, Wednesday, causing its investors to lose 40 billion dollars.
It is noteworthy that this class of cryptocurrency is supposed to be linked to the dollar directly without changing its value.
Deutsche Bank expects in an analysis that Bitcoin will rise to $28,000 by the end of the year, given the strong correlation coefficient between the world's most popular cryptocurrency and US stocks.
This comes despite the decline of Bitcoin, during 2022, amid a state of risk aversion driven by higher interest rates and inflation fears.
