what digital currency (cryptocurrency) has also hit the cold. Which has fallen 50% from the highest record high of the year.
Bitcoin, the world’s largest digital currency, fell 50% from its record high of $27560.90 to its all-time low of $36537.85 on Tuesday.
The way people stay at home comfortably after getting cold. Similarly, it seems that the cryptocurrency is getting cold. crypto market 50 % Have fallen till
Jonathan Padilla, co-founder of Snickerdoodle Labs, said “the overall digital currency markets have been challenged this month.” There’s definitely some pain.
Cryptocurrency Winter is dark for investors,
Winter is dark for cryptocurrency investors. Because the market has been falling little by little for more than 2 months. However crypto currency investors have an infinite supply of optimism and patience. And many people believe. That better times may soon come.
Here’s what famous cryptocurrency investor Mike Novogratz had to say.
Noted crypto currency investor Mike Novogratz said on Twitter that “this will be a year when people realize that being an investor is hard work”.
Such a crash was naturally the result of a huge sell-off as extreme fear gripped the markets.
Some investors chose to panic and sell their crypto. Most of the new investors panic and due to lack of experience who had not experienced this kind of volatility before. Unfortunately many of them bought bitcoin above $50k from FOMO and sold it out of FUD at a loss of less than $35k.
Why the digital currency slump is putting investor optimism to the test.
Analysts say cryptocurrencies may face their next major challenge. And in the blink of an eye, more than $1 trillion in cryptocurrency market value could evaporate. The bearish decline that has been a hallmark of the digital asset in recent weeks continued into the week, with bitcoin falling more than 15% at one point in time.
Why is the market of digital currency and stock market going down fast?
There are three main reasons why the bulls of both the crypto currency or the stock market have collapsed.
New variant of Kovid-19
Due to the arrival of a new variant of Corona in South Africa and the spread of this Corona variant in many countries of Europe and the ban again across the world, its direct impact is visible on investors. Due to this also digital currency and stock market are being affected.
Weakness in Asian markets
The Indian government has also directed the states to strictly test and test travelers coming from South Africa, Botswana and Hong Kong.
foreign policy
The administration of US President Joe Biden is preparing to release an initial government-wide strategy for digital assets as soon as next month, according to federal agencies and sources.
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