Cryptocurrency values have been falling lately as investors try to gauge geopolitical turmoil, the job market, and the Federal Reserve’s independence. Cryptocurrencies are typically more volatile than stocks, so their responses to upheaval lead to even more drastic price swings than equities.
Bitcoin (BTC +0.40%) and XRP (XRP +0.39%) haven’t been immune to the market’s recent turmoil. Bitcoin’s price is down 25%, and XRP has slid 46% during the past six months.
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Investors are looking for safe assets
Cryptocurrencies generally thrive when economic conditions are good and interest rates are low. For example,…
