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Price slide:
Bitcoin has lost more than 25 percent of its value since its high in early November.
Meanwhile, the Dax threatens to fall below the 15,000 mark
Photo: JIM URQUHART / REUTERS
After the price drop on Saturday night, the world's most important crypto currency Bitcoin continues to fluctuate below the $ 50,000 mark on Monday. Bitcoin has lost more than a quarter of its value since hitting a record high of $ 68,000 in early November. The nervousness of investors remains high: The Omikron variant of the coronavirus, the impending insolvency of the highly indebted Chinese real estate company Evergrande and the soon less generous monetary policy of the US Federal Reserve ensure that investors in the crypto market avoid the risk. In addition, this week there is an important hearing of managers of crypto companies in the US House of Representatives.
A Bitcoin last cost around $ 49,500 on Monday morning, about as much as on Sunday evening. Early on Saturday, the rate of the largest and best-known digital currency fell by around a fifth to almost $ 43,000 in less than an hour, before recovering slightly. Ether, the second largest digital currency after Bitcoin, showed a similar price trend. According to experts, a valid reason for the sudden drop in the Bitcoin price was not immediately apparent. One referred to the sometimes larger fluctuations in crypto money, especially on the weekend - in less liquid markets. In addition, there is a tense mood on the financial markets. The reasons are the uncertainty about the consequences of the spread of the omicron variant of the coronavirus and the expectationthat the Fed - forced by the increased inflation - is likely to cut back its bond purchases to support the economy during the Corona crisis faster than expected.
A warning from real estate giant Evergrande of possible payment difficulties also depressed sentiment over the weekend.
The group has been in crisis for months and is considered the world's most heavily indebted real estate company.
It has to raise money to pay banks, suppliers and bondholders.
The company is so big that some experts fear a risk of contagion for China's economy and beyond.
Dax just over 15,000 points
Against this background, the stock markets could also come under further pressure.
The Dax hovered just above the 15,000 mark on Monday morning and has already lost more than 1,000 meters since the Omikron variant appeared.
In Asia, the indices were barely changed on Monday.
The US futures on Monday morning indicated a slight recovery for the Dow and Nasdaq after the price slide.
Tech stocks in particular came under pressure on Friday.
The experts at Landesbank Helaba do not see the danger for the Dax as averted.
Another focus for them is the battle for the technically important 200-day line - most recently the index was clearly below it.
US stock exchanges: price slide on the Nasdaq
The Dow Jones index of the standard values was able to limit its losses on Friday in the last few minutes of trading and closed only slightly lower.
The index of the technology exchange Nasdaq 100 collapsed at times by around 3 percent and then closed almost 2 percent weaker at 15,712 points.
Investors parted ways with big tech stocks like Tesla, Nvidia, Microsoft and Apple, which each fell between 4 and 6 percent.
With news agencies
