The digital currency market loses $ 300 billion in 4 days, and the intense fear is sweeping the hearts of investors
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Answer The digital currency market loses $ 300 billion in 4 days, and the intense fear is sweeping the hearts of investors
Bitcoin’s decline has continued in the past 24 hours, and the asset does not appear to have stopped losing value.
Currently (at the time of publication) most cryptocurrencies are in a similar or worse position, with massive price drops from Ripple, Solana, Cardano, Polkadot, Shiba Inu…
Bitcoin drops to 33 thousand dollars:
Just four days ago, the price of Bitcoin rose to the level of 40 thousand dollars after the last meeting of the Federal Reserve.
Although it failed to overcome this level, it remained close to it for several hours before the outlook and direction of the market changed completely.Read:Vitalik Buterin: The Ethereum Foundation advised to sell 70,000 “ETH” at the end of 2017 peak
In just a matter of hours, Bitcoin plummeted by $4,000 to a multi-week low of $36,000.
While this was a significant price drop, it wasn’t the lowest.
Where the price of Bitcoin continued to decline and fell to the lowest levels since June 2021, estimated at 33 thousand dollars.
So far, Bitcoin is still struggling and trying to stay at this level.
The recent decline in the price of Bitcoin brought the total market capitalization down to $637 billion.
Altcoins are going in the same direction as Bitcoin:
Similar to Bitcoin, most altcoins have also been declining in the past several days.
Many of them painted record bottoms.
Ethereum touched $3000 earlier this month, but has lost more than $600 since then.
Another 4.5% drop in the past 24 hours brought the second largest cryptocurrency below $2,500.
Binance coin (down 5% in one day) is now trading at $340 after having been above $400.
Ripple, Solana, Cardano, Polkadot and Sheba have also lost more value.
The decline in the price of bitcoin and altcoins has brought the total market capitalization down to the level of $1.53 trillion.Read:PayPal confirms it has acquired Curv, a cryptocurrency custodian
Intense fear sweeps the hearts of investors:
The decline in the price of Bitcoin and altcoins and the decline of Bitcoin to levels not seen since 2021 made investors afraid of prices falling further and going below the $30 thousand level which is an important psychological support.
Read:The digital currency REN soared by 40% after announcing the launch of the main network
The fear and greed index declined to indicate feelings of intense fear and scored 11, which means intense fear.
Bitcoin fell to its lowest level since 2021, and most of the alternative digital currencies were affected
The high rate and frequency of cryptocurrency frauds, asking for help, and begging are the most prevalent
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