Times difficult for Cryptocurrency fans. After a very strong second half of 2021, we now see what seems to be a downhill trend without end because the Crypto market accident continues. Both bitcoin, ethereum, or other types of crypto, currencies dropped one by one with only brief fertilizers that occur on the case base per case. Will this be a new normal for the Crypto market, or will it go up and recover as it seems always done?
Cryptocurrency, as a whole, is known to volatile. Experienced Crypto veterans have seen high-mountain peaks and destructive lows. The Crypto market fluctuates, as well as the regular stock market, but the semi-regular crash takes place at the Crypto market is the perfect presentation of how volatile it is.
The accident was not limited to only one cryptocurrency. Bitcoin may be a child posters crypto, but other currencies are hit as hard – if it’s not more difficult. It is not to say that Bitcoin (BTC) does not suffer a devastating loss, because of course. According to Coingecko, the BTC has reached all time highs in early November 2021, reaching a value of $ 67,617. The price continued to fall since then, but it really dropped in January, falling as low as above $ 35,000 on January 23.
As reported by the economic period, this latest Crypto accident removes more than $ 1 trillion in market value. That’s right: $ 1,000,000,000,000, twelve zeros, in the US dollar just disappeared for several months. Which currency suffered the biggest losses?
As mentioned above, Bitcoin has suffered massive losses, and we may not see the end. Since the peak of November, BTC has lost more than 45% of its value. While terrible things for Bitcoin, other currencies don’t do better things.
Ethereum (eth,) the second most popular coin, take a big blow too. The ethereum value (vs. USD) has fallen hundreds of dollars every hour in the past, only for a while getting back the dollar – and then down again. Just like Bitcoin, Eth has reached its peak in November 2021, it reached a value of $ 4,815 (through coingecko.) Even though the coin was never enough to hit that high again, he lived in a $ 4,500 ballpark until the end of December 2021 – but those days it seemed to have been Lost now. Only in the past week (January 17 to January 24, 2022,) ET has dropped from $ 3.356 to $ 2,381.
We just reported a great success for Dogecoin, which is now officially recognized as a currency in Tesla Merch Store, but it is short. Dogecoin is now at the lowest score because of its unexpected increase in April 2021. In other words: Crash Crypto affects the currency across the board, both the BEHEMOTH (BTC and ETH) or smaller coins.
Before we learn what happens to the Cryptocurrency market in a few weeks and the last month, it is important to note that this is what the Crypto market did. It goes up and down in the waves and only sees images larger than one year showing which market cycle we are entering. Right, the Crypto market (although it is not exclusively a Crypto thing) recognizes two market cycles: bull market and bear market.
The bull market occurs when investment generally increases. There may be some hiccups along the way, but we observe the trend of public gains – it’s a bull market. The bear market is the opposite of it and represents the time when securities fall for a long period of time.
Many investment experts agree that we have been in the middle of the bull market for some time now. The majority of 2021 consisted of a bull market.
