in my experience the only reason for the current drop is only fear and nothing else.
we had price not being able to go above $70k a couple of months ago and then it fell down. ever since then it hasn't been able to reverse back up and people became convinced that the drop is the repetition of previous drops such as the one we had in 2018 so it should be long and big like that one. with the world economy mainly in US and Europe crashing hard we have an additional fear in bitcoin world.
the result of all of this is the crash we are seeing.
Topic: What's happening With Bitcoin? - page 4. (Read 730 times)
Ignores all the dumps focus only on the pumps
I know almost all veteran members understand what's happening in the market. But, newbies like me still trying to figure out what's happening and the possible reason why it's happening. Now, People sharing their thought as if BTC is the only currency that is going down now. Every currency going down right except stable coins (We don't see the stable coins going down like Terra UST).
The key point Reason for the Market Crash is Fear and Inflation.
Here is an article worth reading from financial express.
Cryptocurrency markets have crashed to a new low of this year today (13th June, 2022). The global market cap has shrunk below $1 trillion to $977 billion, around 12 % fall since yesterday. The global cryptocurrency market cap has fallen by around $1 trillion this year while almost every top coin is now worth half or even less than their all-time highs.
The immediate trigger for the crypto crash appears to be a massive sell-off by investors amid heightened inflation fears and pausing of withdrawal by crypto lending service Celsius. Investors are also continuing to stay away from riskier assets, which is reflecting in the stock markets as well.
“The crypto market has been under pressure from the Federal Reserve, hiking the interest rates to combat inflation over the past few months. Bitcoin, Ethereum, and most cryptocurrencies suffered losses over the weekend after a broad sell-off following the data showing US inflation hitting a 40-year high,” said Edul Patel Co-Founder and CEO of crypto investment platform Mudrex.
“As investors seem to have panicked, the number of crypto liquidations has been high since Friday. Bitcoin and Ethereum plummeted as much as 7% each and are currently trading at their lowest at US$25,000 and US$1,300. The bearish trend may likely continue in the next coming days,” he added.
While altcoins have historically underperformed Bitcoin, this time they have an added pressure of potential regulatory roadblocks. A report by CoinDesk quoted an expert as saying that only a small number of altcoins are likely to survive such market movements.
Shivam Thakral, CEO of crypto exchange BuyUcoin said that the rising food, gas, and energy prices are putting tremendous pressure on the crypto market as Bitcoin and Ether have witnessed double-digit losses in the past 24 hours.
“After the consumer price index reported the highest inflation since 1981, financial markets across the globe have seen a sharp downturn,” said Thakral.
“The market is expected to remain choppy in the coming weeks and countries around the globe continue to report high inflation numbers. The current dip in the crypto prices allows investors to buy crypto at 2021 prices and we expect the seasoned investors to take advantage of the dip,” he added.
According to Darshan Bathija, CEO of crypto exchange Vauld, most investors worry that unless inflation numbers start dropping soon, the US Fed may have to tighten reigns by increasing interest rates at a faster pace than anticipated.
Source: https://www.financialexpress.com/digital-currency/crypto-crash-reason-6-13-why-is-crypto-crashing-today/2558313/
The key point Reason for the Market Crash is Fear and Inflation.
Here is an article worth reading from financial express.
Cryptocurrency markets have crashed to a new low of this year today (13th June, 2022). The global market cap has shrunk below $1 trillion to $977 billion, around 12 % fall since yesterday. The global cryptocurrency market cap has fallen by around $1 trillion this year while almost every top coin is now worth half or even less than their all-time highs.
The immediate trigger for the crypto crash appears to be a massive sell-off by investors amid heightened inflation fears and pausing of withdrawal by crypto lending service Celsius. Investors are also continuing to stay away from riskier assets, which is reflecting in the stock markets as well.
“The crypto market has been under pressure from the Federal Reserve, hiking the interest rates to combat inflation over the past few months. Bitcoin, Ethereum, and most cryptocurrencies suffered losses over the weekend after a broad sell-off following the data showing US inflation hitting a 40-year high,” said Edul Patel Co-Founder and CEO of crypto investment platform Mudrex.
“As investors seem to have panicked, the number of crypto liquidations has been high since Friday. Bitcoin and Ethereum plummeted as much as 7% each and are currently trading at their lowest at US$25,000 and US$1,300. The bearish trend may likely continue in the next coming days,” he added.
While altcoins have historically underperformed Bitcoin, this time they have an added pressure of potential regulatory roadblocks. A report by CoinDesk quoted an expert as saying that only a small number of altcoins are likely to survive such market movements.
Shivam Thakral, CEO of crypto exchange BuyUcoin said that the rising food, gas, and energy prices are putting tremendous pressure on the crypto market as Bitcoin and Ether have witnessed double-digit losses in the past 24 hours.
“After the consumer price index reported the highest inflation since 1981, financial markets across the globe have seen a sharp downturn,” said Thakral.
“The market is expected to remain choppy in the coming weeks and countries around the globe continue to report high inflation numbers. The current dip in the crypto prices allows investors to buy crypto at 2021 prices and we expect the seasoned investors to take advantage of the dip,” he added.
According to Darshan Bathija, CEO of crypto exchange Vauld, most investors worry that unless inflation numbers start dropping soon, the US Fed may have to tighten reigns by increasing interest rates at a faster pace than anticipated.
Source: https://www.financialexpress.com/digital-currency/crypto-crash-reason-6-13-why-is-crypto-crashing-today/2558313/
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