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Cryptocurrency markets are experiencing a “black Monday”. In all cryptocurrencies, especially Bitcoin There are huge waterfalls† The total volume of the markets is half way to a few
Cryptocurrency markets are experiencing a “black Monday”. In all cryptocurrencies, especially Bitcoin There are huge waterfalls† The total volume of the markets is half way to a few months ago in withdrawn condition. Let’s take a closer look at the decline that has taken root for cryptocurrency investors.
In fact, the cryptocurrency markets have been shaky for a while now. Bitcoin, which is in a fluctuating process, altcoins also failed. Now it seems that the markets have taken a new turn. Since Bitcoin is trading at $25,000 at the time of writing this article, which means; As of now, investors are back to the point in 2020. bitcoin, no later than the end of 2020 had seen these levels.
*Bitcoin 1-day price chart. Source: Coinmarketcap
A serious portion of Bitcoin traders uses graphical interpretation. from technical analysis which they abused. There was a general perception of support according to the charts. This support was the bond of 29 thousand dollars. In fact, those who relied on technical analysis were right. When the Bitcoin price fell below $29,000, it reacted and bounced back up. But this time nothing like that happened. Almost all analyzes performed to date in vain†
Bitcoin has lost more than 8 percent in the last 24 hours, in altcoins more impressed. Ethereum lost about 8.5 percent to $1,320, Binance Coin to $237, Cardano (ADA) lost 10 percent to $0.45 and Solana, which lost more than 12 percent. for $28 no matter how much it decreased. The same goes for Dogecoin and Shiba Inu.
It is not possible to say the reason for the decline in the cryptocurrency markets. While some point to US inflation rates, others think the attack on the Celcius Network caused the decline. Celcius, one of the largest loan providers in the cryptocurrency world, has announced that it has made another decision to shut down withdrawals, transfers and exchanges. This caused the institution’s cryptocurrency to fall in value by about 50 percent. Some industry sources state that this is considered a second case of LUNA, turning the markets into a bloodbath.
Whatever the reason for the decline, crypto markets trust has declined possible to say. So much so that the total size of the markets had soared to $3 trillion in the closing months of 2021. Now, according to Coinmarketcap, the total money in the cryptocurrency markets is: $1 trillion $28 billion†
This content is not investment advice.
Source: Web Tekno
Alice Smith is a seasoned journalist and writer for Div Bracket. She has a keen sense of what’s important and is always on top of the latest trends. Alice provides in-depth coverage of the most talked-about news stories, delivering insightful and thought-provoking articles that keep her readers informed and engaged.
