This is why a research firm raised red flags over crypto mortgage risks

ambcrypto.com:

Cryptocurrencies have an inherent risk element that has got a lot to do with their volatile nature. This is why many famous personalities have questioned its value with the recent being Warren Buffet. The billionaire said he will never buy Bitcoin even at $25 given the fact that it doesn’t produce anything tangible.

Florida-based ratings and research firm Weiss Ratings are the latest authority to censure the usage of cryptocurrencies. This cautionary warning came over the risks of crypto mortgages amid the current economic climate in the United States. Mortgage rates are rising quickly in the United States. Reportedly, the domestic mortgage rates rose at the fastest pace in 35 years, for instance.

Yet different users craved digital assets given their market capitalization over the years.

In the 3 May report, Weiss analyst Jon D. Markman urged caution with such mortgages, citing the poor performance of stocks and crypto this year. The cryptocurrency market suffered a major correction of 2.5% amidst the rising fears. Altcoins too witnessed the wrath of bearish sentiments across the board.

Even, U.S. property prices faced headwinds from a change in Fed policy and rising mortgage rates.

Various macro analysts have raised similar concerns regarding cryptocurrencies amidst rising inflation. An analyst named Alex Kruger boldly suggested that the Fed’s latest announcements set for this week “will determine the fate of the market” moving forward.

First came the Fed. Then the Netflixpocalypse. Then the Russian invasion. Then the sanctions. Then the Fed and the largest treasury dump ever. This week it was earnings. Next week the Fed again.

The Fed's QT announcement on Wed will determine the