The Fed is raising the interest rates around March. Bitcoin rallied briefly ahead of the Fed meeting while the stock market was still in a downward slump, but it didn’t last long and crypto markets once again showed a strong correlation to stock market. So far growth stocks and crypto have faced the brunt of pressure from the risk aversion of the markets. As bitcoin and crypto are going more and more mainstream, they are starting to face the same pressures as traditional markets. 

There is no need to panic though, we should try to learn as much about the markets as we can to know what exactly is happening. I am not worried about this sell off, as my time horizon is long. It all boils down to how long are you planning to hold bitcoin. So far, in a 4 year time span bitcoin has always gone up. And there is a fair amount of optimism for the next 10 years. Cathie Wood of Ark Investment puts bitcoin price around $1M in next 8 years. I would love for it to come true, time alone will tell. I am very optimistic about bitcoin in the long term, and I know there will always be short term turbulences.