Stockbrokers on both sides of the Atlantic accessed Ether, the second most important crypto asset by market size, at the beginning of the month and at the start of the last quarter of the year. Even if the situation remains murky from a fundamental perspective, investors could initiate a recovery rally in the short term. Of the Ethereum course was trading around half a percent higher at $1,290 per unit on Monday afternoon and has been supposedly stable for days.
Global uncertainties remain smoldering
A cocktail of uncertainty, consisting of global inflation and interest rate concerns and geopolitical risks, has taken a toll on risky assets like ether in recent months. Since the beginning of the year, the Ethereum price has lost around 65 percent of its value.
In particular, the restrictive gait of the US Federal Reserve (Fed) in the fight against the rampant inflation acts as stress factor number one. Numerous central banks have taken the US currency guardian as an example and adjusted their monetary policy accordingly in order to combat the inflationary pressure. Next to the European Central Bank (ECB) has, for example, the Bank of England (BoE) significantly increased their interest rate level. While the key interest rate in the euro zone is currently 1.25 percent, in Great Britain it is 1.75 hundredths. In the US, the interest rate range is currently 3.00-3.25 percent.
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