Thursday, June 23, 2022

Why Is Crypto Going Down Again

The Crypto Crash 201: How Did It Happen

Why Crypto Markey Again Going Down |

Cryptocurrency prices were out of control, and with individuals investing their life savings, it became a national issue. The US government stepped in to regulate, which in turn meant a forced stop to some degree of market manipulation. The price began decreasing, and excitement started to die down. Social media then outlawed crypto ads, which curbed new investor numbers, meaning a further drop in price. Rumors began circulating that South Korea would be banning crypto exchanges, affecting cryptocurrencys legitimacy and longevity in the eyes of many. New investors began to panic sell, and as big players also sold, the price hurtled down.

In December 2017, Bitcoin was valued at around $19,500 by June 2018, it was $6,000. Many altcoins disappeared completely, with thousands of life savings going with them.

This crypto market collapse really harmed Bitcoins and other cryptocurrencies reputations. Since it was a relatively newer asset, very few knew what was going on with crypto, why the market had suddenly crashed so quickly, and what to do when this happened.

Moreover, no one knew how far Bitcoin would crash? Many people assert that because on the surface cryptocurrencies arent real things, they thus dont have any tangible value. So in essence, there was no limit to how far down bitcoin could fall.

Why Is Crypto Going Down Will The Slide Continue

Bitcoin is the face of the cryptocurrency market. And the majority of price movement within the market is dependent on Bitcoins success or failure.

For example, most altcoins face volatility when Bitcoin begins to drop. Anything from negative press to government crackdowns can cause a chain reaction that leads to a crypto crash.

At the moment, Bitcoin is trading around $30,000 after hitting an all-time high of $64,829.14 in April. So why is crypto going down so quickly after most digital currencies were reaching new highs in recent months?

Recent government crackdowns and the resulting backlash have led to market uncertainty and volatility. And while most experts believe its only a matter of time before the crypto market recovers, many investors are trying to determine if nows the time to get in or get out.

So lets take a look at the bigger picture. Bitcoin finished June down 6%, and the volatility has continued into July. On the other side of the crypto spectrum, the meme token Dogecoin is down more than 70% over the past two months after hitting an all-time high of $0.740796.

According to a CryptoCompare, trading volume on Coinbase, Binance, Bitstamp and Kraken fell more than 40% in June. These are some of the largest and most popular cryptocurrency exchanges. And in total, the crypto market lost more than $1.3 trillion in a two-week span.

Ethereum Price Prediction: Will Eth Break Out To New Highs

Lets check what the Ethereum price predictions from analysts and forecasters look like.

At the time of writing, the latest short-term ETH technical analysis from CoinCodex was bullish, with 26 technical analysis indicators giving bullish signals and six offering bearish signals. The daily and weekly moving averages were bullish, however, the Relative Strength Index was bearish and moving average convergence divergence was neutral.

The Stochastic RSI and stochastic fast indicators were giving sell signals, as were the Hull Moving Average and Williams Percent Range indicators. CoinCodex predicted that the ether price would drop to $3,519.43 by 19 October.

Technical analyst Justin Bennett suggested on 6 October that ETH could climb above $30,000 in the long term.

Don’t get me wrong, I’ll take $10,000 all day long. But this is one of the cleanest channels I’ve ever seen. Hard not to pay attention, he tweeted.

Justin Bennett

The Ethereum forecast from algorithm-based site Wallet Investor predicts that the average price will rise to $4,073.850 by the end of 2021, reaching $6,537.90 by the end of 2022 and surpassing the $10,000 level in 2024 to trade at $13,933.30 by the end of 2025.

The ether price prediction from DigitalCoin estimates that the price will average $6,369.13 in 2022, and $7,452.90 in 2023, reaching an average of $11,020.56 in 2025 and $12,657.08 in 2026, with a peak at $17,397.43 in 2028.

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What Are The Prices Of Ethereum Cardano Ripple Today

With all coins tending to move in tandem with Bitcoin, Ethereum was trading down by more than eight percent on the last 24 hours at $2,827.30 or

£2,063.17 at 11.50am on Friday.

A popular cryptocurrency synonymous with the rising crypto trend of NFTs, Ethereum has an all time high of $4,382.73 which it reached in Mays cryptocurrency boom, but it has struggled to return to this peak since.

The hype surrounding popular memecoin Dogecoin had appeared to diminish recently as new altcoins took centre stage.

Dogecoin was trading -12% on the last 24 hours at $0.206622 on Monday.

Meanwhile, Cardano prices are fluctuating around $2.14 , XRP Ripple at $0.912072 and Stellar at $0.277496

as of 11.55pm on Friday.

XRP and Stellar were down almost eight percent and six percent respectively on the last 24 hours.

Things Not To Do When Bitcoin Is Going Down

Why is Crypto Going Down and Will it Recover?  Coin Graph ...

Ian Stauffer on Unsplash

Trading or investing in cryptocurrency is a psychological war against yourself. Stock traders often say that investing in traditional markets requires extreme mental discipline. That discipline is how they control themselves when the market is volatile. How they stop from making stupid decisions, and keep on track with their strategy.

If traditional trading requires extreme discipline, crypto requires the mental fortitude of Jedi. The crypto market is more volatile than any market the world has ever seen. You need to be the emotional equal to Yoda meditating on top of a mountain during a meteor shower.

Yes the world might be ending, but its all good, youre hanging out on your mountain top.

Your fortress of solitude.

Ive been in this space for a few years now. I started off as a investor but fell deeper down the rabbit hole. I work with an accelerator helping token sales, and recently joined the team of a project I fell in love with. I like to think this gives me a comprehensive understanding of fundamentals at play.

What this understanding of the players involved in this market has given me is..

Bitcoin Price Over 12 Months

Bitcoin Google Search Volume Over 12 Months

The search volume actually starts to pick up just before the price goes up.

When a market is sentiment driven, price movement is driven by emotion. To come out on top in a market driven by emotion, you have to remove emotion from your trading.

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Cryptos Bad News Rundown

The Reuters headline mentioned above was just the start of the bad news to hit the crypto markets. So why is crypto crashing? Here are eight reasons:

  • Elon Musk says Bitcoins bad for the environment.
  • The stablecoin Tether isnt as tethered to the U.S. dollar as once thought. You can read more about the possibility of this impact here.
  • The FBI recovered the majority of the Bitcoin ransom paid to the hacker group DarkSide in the aftermath of the Colonial Pipeline attack. Which got investors wondering whether its as safe and secure as once thought.
  • The Mark Cuban-backed venture TITAN crypto collapsed, leading to panic-selling.
  • China shut down 90% of its Bitcoin mining capacity.
  • $1 billion worth of Bitcoin was liquidated in a 24-hour period.
  • China began blocking popular Chinese crypto influencers on the service Weibo .
  • A malfunctioning Coinbase wallet turned a $20 investment in Rocket Bunny crypto into trillions of dollars trillions that will never be honored, mind you.

Even if the crypto markets werent already rife with volatility, those eight events would be enough to inject some turmoil. But one mans turmoil is another mans buying opportunity.

Bitcoin And Ethereum Set For Ludicrously Strong End To 2021

Throughout the crypto market dip between late April and August, many analysts and cryptocurrency experts remained relentlessly bullish about bitcoins price potential in 2021.

One of those is Nick Spanos, a renowned crypto innovator and co-founder of Zap Protocol, who believes leading cryptocurrencies are set for a record-breaking end to the year.

Today he tells us that bitcoin and Ethereum are in for a ludicrously strong October, November and December. Heres what he had to say:

Bitcoin, Ethereum and the broader crypto market are likely to have a ludicrously strong Q4, and I predict we will see new all-time highs across the board by 2022.

BTC and ETH are already approaching their all-time highs, and I predict Bitcoin to breach the $100,000 mark as early as year-end, while Ethereum is well-placed to hit $10,000-$12,000 by then.

The cryptocurrency market has already demonstrated itself to be increasingly resilient to adverse market developments, such as China clamping down on crypto or Elon Musk backtracking on his pro-crypto stance.

This is crucial to cryptos long-term success, and I believe the market will become even more resilient as crypto investors get used to seeing crypto always bounce back better and stronger.

This will result in less panic-selling, and therefore dips and market crashes will become a much rarer occurrence.

Read Also: Can You Trade Bitcoin On Robinhood

Why Is The Cryptocurrency Market Down Today

  • 4:30 ET, Jul 14 2021

THE cryptocurrency market has dropped again, proving the volatile nature of coins like Bitcoin, Dogecoin and Ethereum.

The price of Bitcoin, the biggest cryptocurrency on the market, is currently down by around 9% over the past 24 hours.

It is sitting around $43,429, according to Coinmarketcap, compared to its highest ever level of more than $64,000 in April.

The second biggest cryptocurrency, Etheruem, has also dropped in value in the last 24 hours along with other popular coins like Dogecoin, Cardano and XRP.

Cryptocurrencies are highly volatile, meaning their values often make large swings with no notice.

The extreme volatility and the accompanying sudden market falls are just one of the reasons that investing in cryptocurrency is a very risky business.

You can be left with less money than you put in, and the markets can shift in the blink of an eye.

You might not be able to access your investment if platforms go down and you could be left unable to convert crypto into cash.

What Did The Pboc Say About Banning Crypto In China

Crypto News Today | Why Crypto Market Going Down ? | Sol Coin | SXP | Cryptocurrency New Today

The Chinese central bank has issued a statement in which it declares that all crypto-related transactions and activities are illegal financial activities.

A translation of the statement posted on the PBOCs website sees the bank claim that the rise of crypto in the country has been disrupting economic and financial order, breeding illegal and criminal activities and seriously endangering the safety of peoples property.

The statement, signed by the a number of Chinese state authorities and regulators including the Chinese Securities Regulatory Commission, went on to state that online cryptocurrency exchanges providing crypto services to Chinese citizens from overseas were also illegal.

It states that financial regulatory branches of the Chinese State Council will work with cybersecurity and telecommunications authorities to prevent digital currency trading and speculation in order to maintain economic and financial order and social harmony and stability.

The renewed crypto clampdown from the Chinese state comes just months after it announced it would be taking further action to suspend crypto mining operations dominant in the Sichuan province.

The new statement from the PBOC reasserts that China will severely crack down on illegal financial activities related to virtual currencies as well as any associated criminal activities.

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Will Crypto Crash Again In 2021

Cryptocurrencies are continuing to increase in value, and so the question that everyone is asking is if there will be another crash? Opinions on this are certainly divided. Critics, including celebrated investor and CEO of Berkshire Hathaway Warren Buffett, predict that cryptocurrency will disappear completely, while supporters, including former Goldman Sachs executive Raoul Pal, predict it to continue to rise and revolutionize the financial market. Despite his U-turns, Elon Musk is another influential person who sees great potential in cryptocurrency, particularly Bitcoin, not just as an asset, but as a faster and more secure way to store and move money.

Cryptocurrency still has a long way to go, and as it adjusts to the market and makes improvements in speed, security, and carbon emissions, its value will certainly fluctuate. However, judging by its fast recovery and adoption by countries and major players so soon after its fall, confidence in crypto has prevailed. Additionally, its fast recovery despite a sudden loss of over half of its miners shows its robustness, as well as its miners versatility. Whether there will be another crash is uncertain, but with these indicators, it does seem as though cryptocurrency is here to stay.

Why Is The Crypto Market Down

Chinas crackdown on cryptos comes days after Musks shock announcement.

Musks decision signifies a sharp u-turn for Tesla who only started accepting Bitcoin as payment for its services in February 2021.

It came after the electric car company bought $1.5b of Bitcoin shares, which in turn sent the market price of both the crypto and Tesla soaring.

Yet the impact on the environment of Bitcoin mining – a complicated process of minting new digital tokens – has seen Tesla withdraw this option for customers.

The billionaire entrepreneur said: We are concerned about rapidly increasing use of fossil fuel for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.

Musk reaffirmed his belief that cryptocurrency has a promising future but that it cannot come at great cost to the environment, in his Twitter post.

Musk has been a long-time advocate of cryptocurrencies and the Tesla decision was felt across the market, with other digital tokens going down in price.


Also Check: What Exchange Does Robinhood Use For Crypto

You Dont Have To Spend Years Learning

You cannot expect an immediate profit of cryptocurrency investing but you can learn about bitcoin investment, for example, using different platforms and already known strategies and trying them out without having to spend years learning about a conventional investment which is itself an expensive process. This gives you more opportunities to indulge in the world of trading that needs a certain level of experience but doesnt need you to be an expert. The other problem you can find when it comes to your first investment in other fields such as real estate, is an extremely high entry threshold, where at the very beginning youll have to spend a more significant amount of money to just get started. Here you can create an account, invest, track your assets even on your phone, with no complications.

Why You Can Trust Bankrate

Why Is the Crypto Market Going Down?

Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. Weve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next.

Bankrate follows a strict editorial policy, so you can trust that were putting your interests first. All of our content is authored by highly qualified professionals and edited by subject matter experts, who ensure everything we publish is objective, accurate and trustworthy.

Our investing reporters and editors focus on the points consumers care about most how to get started, the best brokers, types of investment accounts, how to choose investments and more so you can feel confident when investing your money.

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Risks Of Crypto Investments

THE Financial Conduct Authority has warned people about the risks of investing in cryptocurrencies.

  • Consumer protection: Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond anti-money laundering requirements.
  • Price volatility: Significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses.
  • Product complexity: The complexity of some products and services relating to cryptoassets can make it hard for consumers to understand the risks. There is no guarantee that cryptoassets can be converted back into cash. Converting a cryptoasset back to cash depends on demand and supply existing in the market.
  • Charges and fees: Consumers should consider the impact of fees and charges on their investment which may be more than those for regulated investment products.
  • : Firms may overstate the returns of products or understate the risks involved.

Following the ban, Brits have been having trouble withdrawing and depositing money into their Binance accounts, according to reports from the Financial Times.

The UK isn’t the only one getting tough on crypto.

Many crypto-mining regions in China are radically reducing operations.

Miners create new cryptocurrencies using a complex computer code in a complex process, which is highly energy intensive and requires a lot of computer power.

Bitcoin then started plummeting within minutes.

Why Is Cryptocurrency Going Down Or Falling

Most trending topic of 2018 and end of 2017 all over the world is cryptocurrency, who was taking over many investing options because of huge profit rate in very less time and in this Bitcoin is first ever cryptocurrency which was launched in 2009 by Satoshi Nakamoto from China and after that there was no improvement and better response seen in bitcoin for 6 to 7 year, breakout year comes i.e. 2017 where people starting gaining attention from investor and till end of this year many people who active on social network got to know about this market and following this some other new cryptocurrency are started launching, so along with Bitcoin people was starting investing into other coins, but after having awesome run in market of investment cryptocurrency marked dealing with back to back thread which result prices start falling and number of investors also start dropping and no one able to find out what went wrong, so below we have some possible reason for crash of market.

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