Sunday, August 14, 2022

Why Is Crypto Market Down

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Why Is The Crypto Market Down The Answer Will Shock You

As the crypto selloff is happening since last week, crypto investors were all shocked by major news coming straight from the US. The entire cryptocurrency market fell more than 12%, and the market capitalization fell below the USD 2 trillion marks. The first sell-off was related to a normal price adjustment, as the crypto market went way high for an extended period of time, and it was normal for a correction. Why did the second sell-off wave happen and why are cryptos down?

Where Are These Digital Assets Heading And How Can Everyday Investors Buy In Safely

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From brazil to nigeria, people turn to bitcoin because it’s the most advantageous way for them to conduct international transactions. The how, what, and why of cryptocurrency. The how, what, and why of cryptocurrency.

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How Is Crypto Price Calculated

Cryptocurrencies are available to the traders from more than 10 years already. A large number of people have already invested and trade daily in crypto market. The decentralization of Blockchain system make the coins secure in the system and attractive to the public because of its value on real time.

The price of Cryptocurrencies is determined by:

  • Price volatility
  • Daily news from a determined crypto
  • Adoption of crypto from other companies.
  • Acceptance as an official payment.
  • Why Are Crypto Markets Down

    Why Crypto Market is Down Today and WazirX Burn Event Date ...

    Cryptos have suffered a series of blows recently, on top of their regular volatility.

    The major cryptos are down today, September 20, following a global sell-off in stock markets.

    It comes after the struggling Evergrande property giant in China sparked wider economy fears.

    Snowed under a huge debt pile, a business default could hurt more than just China’s economy.

    In early September, JP Morgan analysts also warned that the markets were due a correction following “retail investor mania”.

    And in August, hackers stole $600million in a cryptocurrency heist after spotting a “vulnerability” in a blockchain site.

    It came after a series of worldwide crackdowns on the cryptocurrency market, and another big sell-off in global stock markets.

    In July, the Met Police also seized nearly £180million in the largest-ever cryptocurrency raid in the UK.

    The money was discovered as part of a major probe into money laundering.

    It was the biggest amount of the cryptocurrency seized in the UK and one of the largest in the world.

    The seizure tops the previous recent record made after police seized £114million.

    Binance has also been banned in the UK, signalling a major “red flag” to investors, Hargreaves Lansdown senior investment and markets analyst Susannah Streeter previously told The Sun.

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    Elon Musk And Bitcoin

    Tesla’s big position in bitcoin and Musk’s large personal following often set crypto markets on edge whenever he tweets, and the price fell after he posted “#Bitcoin”, a broken-heart emoji and a picture of a couple discussing a breakup.

    “Musk has been a major promoter of cryptocurrencies but has turned critical of bitcoin since suspending Tesla plans to take it in payment for cars, owing to concerns about its energy use,” said a Reuters reports.

    Bitcoin and several other cryptocurrencies are still recovering from a crash last month in the wake of that decision and on news of renewed regulatory scrutiny in China.

    Musk had previously said Tesla would not sell its bitcoin, but his tweets were enough to unsettle markets still fragile following May’s crash

    Bitcoin Price Prediction Model Hints At Months Of Record Gains

    Pseudonymous Dutch analyst PlanB has shared the latest update to his much-vaunted Stock-to-Flow price prediction model for bitcoin.

    The latest all-time high means the chart has returned to the red zone, which can typically mean months of new record highs.

    When bitcoin is in all-time high mode , it usually stays in ATH mode for a couple of months, he previously tweeted.

    According to PlanBs analysis, bitcoin is on track to hit six figures before Christmas and could eventually command a market cap of $100 trillion.

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    Biden Wants To Tax Cryptos

    The president of the US Joe Biden has been making significant changes to many laws. Since Biden is a democrat, his plans will consist of implementing higher taxes in order to enhance the countrys budget. This higher tax not only applies to big businesses, corporations, and wealthy individuals, but also to Crypto Holders!

    Biden stated today on the 23rd of April 2021, that he is planning to tax nearly 40% individuals who are earning more than USD 1 million. Crypto whales usually affect heavily the crypto market, and many saw this speech as a threat to their capital gains. They most likely decided to liquidate earrings made to avoid paying capital taxes later when taxes are implemented. There are many crypto millionaires who sought refuge in this tax haven, but apparently, not anymore.

    You might be asking, do ALL whales plan to do so at the very same moment? The answer is an obvious no, but a snowball effect usually happens in such circumstances. This comes especially after profit-taking occurred since last week. So this down market is an extension of profit-taking.

    Risk Diversification Isnt Yet Possible


    When confronted with possible manipulation and market volatility, investors typically diversify their assets. Theoretically, this could mean investing in Bitcoin , Ethereum and higher risk ICOs or altcoins.

    But in the crypto market, diversification doesnt work the way investors want it to. More than 50 percent of the cryptocurrency market cap is Bitcoin alone. This is because most trading occurs between BTC and altcoins since you cannot convert fiat, meaning government-backed currency like the USD, directly into most cryptocurrencies.

    So when Bitcoins price falters, investors tend to convert their cryptocurrencies into stablecoins or fiat, triggering a large-scale market decline. In other words, risk diversification doesnt work in crypto yet.

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    Why Bitcoin Ether Other Crypto Prices Are Crashing

    2 min read.

    • El Salvador on Tuesday became the first country in the world to accept bitcoin as legal tender, despite widespread domestic skepticism and international warnings of risks for consumers

    Bitcoin prices plummeted from more than $52,000 per coin, over 17% to $42,000, before recovering about half of that loss after El Salvador became the first country to adopt Bitcoin as legal tender on Tuesday. However, the rollout stumbled in its first hours and El Salvador President Nayib Bukele said the digital wallet used for transactions was not functioning.

    Tuesdays selloff is the most significant break in the rebound that had lifted Bitcoin almost 75% since late July. Overall cryptocurrency market value fell about $300 billion in the past 24 hours, according to tracker CoinGecko.

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    The world’s largest cryptocurrency staged a small recovery as Bitcoin prices today were at around $46,757, down 11%. Meanwhile, other digital coins followed the lead with ether fell over 11% to $3,471 whereas dogecoin and cardano prices plunged 15% and 12% to $0.26 and $2.5 respectively. Stellar, XRP, Uniswap also crashed in the range of 15-20% over the last 24 hours.

    According to experts, bitcoin was still in the bull market as long the price stayed above the $43,000 level.

    Opensea Confirms Insider Trading On The Nft Platform

    OpenSea, the largest NFT, or nonfungible token, platform, confirmed that one of its employees was taking part in an insider trading scheme.

    “Yesterday we learned that one of our employees purchased items that they knew were set to display on our front page before they appeared there publicly,” the company wrote in a blog post on Wednesday.

    In OpenSea’s written statement, it called the incident “incredibly disappointing.”

    OpenSea would not confirm the name of the employee to CNBC.

    As CNBC reported, since NFTs exist in a legal gray zone, this incident doesn’t appear to be illegal.

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    What Makes Crypto Go Up And Down

    For those who have been following the cryptocurrency market for some time, the situation and events of recent months will seem familiar.

    Some random event, for example, Elon Musks tweet that Tesla will accept bitcoins, raises the price of the currency to new heights, and people begin to say that the general public is finally accepting cryptocurrency.

    Then another random event occurs, for example, Musk changes his mind, after which the rate of cryptocurrencies falls again, and all conversations about general acceptance are forgotten.

    With April 15 On The Horizon It’s A Good Idea To Start Getting Your Crypto Taxes In Order

    Why Crypto Market Down? Crypto Market Crash

    Find out how wealthsimple crypto makes it easy to start your cryptocurrency journey with bitcoin and ethereum. By joel khalili 07 january 2021 bitcoin bull run has pushed the crypto market to new heights the combined value of all major cryptocurrencies has. Crypto was a significant part of the discussion involving the deba. Our monthly newsletter is launching soon with the latest in money news, credit card offers + more ways to save 1 document.addeven. Luke conway has been following and researching the cryptocurrency and fintech space for over five years. Defi, dex, sto, eth 2.0, cbdc and everything that can affect crypto / blockchain world and can help users and projects entrepreneur, founder | defi/sto/ieo marketing and launch | worked wi. The most trusted and safest ways to buy and sell bitcoin and other cryptocurrencies. Changelly offers a unique proposition: Brian nick, nuveen chief investment strategist, joins yahoo finance to discuss the volatility of bitcoin, inflation concerns, and the outlook on the economy for 2021. Find out what they are, how they differ from centralized exchanges and compare some of the dex offerings that are already up and running. It allows you to exchange one cryptocurrency for another in th. Brian nick, nuveen chief investment strategist, joins yahoo finance to di. Decentralized exchanges are primed to become the next big thing in cryptocurrency this year.

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    Why Crypto Market Is Down Today If Is It True

    There is talk from all sides about the onset of a bearish crypto market a period during which the prices of digital assets are constantly falling. Bitcoin is once again being buried and a long crypto winter is predicted. If the pessimistic forecasts are correct, then this time the bull market ended too quickly most experts were confident that it would last at least until autumn or winter. But maybe the pessimists were in a hurry, and we see not a trend change, but only one of the predicted corrections? In a new StealthEX article, we will figure out why crypto market is down today 2021, what these corrections are and what they mean to traders.

    Elon Musk Confirms Bitcoin Ethereum And Dogecoin Holdings

    Elon Musk has confirmed his personal crypto portfolio includes bitcoin, Ethereum and dogecoin but no Shiba Inu or Floki Inu.

    Out of curiosity, I acquired some ascii hash strings called Bitcoin, Ethereum and Doge. Thats it, he tweeted. As Ive said before, dont bet the farm on crypto! True value is building products and providing services to your fellow human beings, not money in any form.

    As the CEO of Tesla, Musk became the most high-profile executive to invest company cash reserves into BTC earlier this year, buying $1.5 billion worth of the cryptocurrency. The electric car maker has benefitted massively from the price rally, with its investment nearly doubling over the last few months.

    The global crypto market has almost remained unmoved in the last 24 hours, currently valued at about $2.58 trillion. Bitcoin has risen in value by about 1 per cent over the last day while Ethereum remains unmoved.

    Other cryptocurrencies, including Dogecoin and Solana have also grown compared to their prices a day earlier while Cardano has marginally slipped in value during this period.

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    Senators Demand Cryptocurrency Regulation Guidance From Sec

    On Tuesday, Gary Gensler, chairman of the Securities and Exchange Commission, told the Senate Banking Committee that the SEC is working overtime to create a set of rules for cryptocurrency markets to protect investors.

    “Currently, we just don’t have enough investor protection in crypto finance, issuance, trading, or lending,” Gensler said in prepared remarks. “Frankly, at this time, it’s more like the Wild West or the old world of ‘buyer beware’ that existed before the securities laws were enacted.”

    Some lawmakers also pressed Gensler about whether certain crypto assets, like stablecoins, meet the definition of a security, which has been an ongoing subject of concern and confusion for regulators and the crypto community.

    Lack Of Liquidity Deters Widespread Adoption


    Increased liquidity would mean price stability, easier, cheaper transactions, and more investor confidence. It would also prevent Bitcoin whales, or large buys, from manipulating cryptocurrency prices.

    Stability and fast transactions translate to wider cryptocurrency adoption, meaning that people besides cyberpunks and techies would feel comfortable converting their U.S. dollars into cryptocurrencies knowing that they could easily convert it back without paying steep transaction fees.

    Today, however, exchanges do not have enough liquidity to provide these functions, despite the fact that cryptocurrency adoption is on the rise. Some suggest that the best way to increase liquidity is to create a large exchange pool used by multiple exchanges.

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    Should I Invest In Cryptocurrency

    People invest at their own risk and cryptocurrencies are not regulated by British financial authorities.

    All crypto investments are risky, but meme coins like Shiba Inu are particularly volatile, and you should be prepared to lose everything you invest.

    The Financial Conduct Authority warned in January: Investing in cryptoassets, or investments and lending linked to them, generally involves taking very high risks with investors money.

    If consumers invest in these types of product, they should be prepared to lose all their money.

    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.

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    What Does This Price Drop Mean For Crypto Investors

    For those who invest in crypto for the long-term using a buy-and-hold strategy, swings like this are to be expected. The recent dips are nothing to be overly worried about, according to Humphrey Yang, the personal finance expert behind Humphrey Talks, who says he avoids checking his own investments during volatile market dips.

    Ive been through the 2017 cycle, too, Yang says, referencing the crypto crash of 2017 that saw many major cryptocurrencies, including Bitcoin, lose major value. I know that these things are super volatile, like some days they can go down 80%.

    Experts recommend keeping your cryptocurrency investments to under 5% of your portfolio. If youve done that, then dont stress about the swings, because theyre going to keep happening, according to Bill Noble, Chief Technical Analyst at Token Metrics, a cryptocurrency analytics platform.

    Volatility is as old as the hills, and its not going anywhere, Noble says. Its something you have to deal with.

    As long as your crypto investments dont stand in the way of your other financial goals and youve only put in what youre ultimately OK with losing, Yang recommends using the same strategy that works for all long-term investments: set it and forget it.

    Dont check on it. Thats the best thing you can do. If you let your emotions get too much into it then you might sell at the wrong time, make the wrong decision, says Yang.

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