This Is Why Bitcoin Is Crashing With Full Force

Date: 14-06-2022 3:09 pm (5 months ago) | Author: Bayo Nelson
- at 14-06-2022 03:09 PM (5 months ago)
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The cryptocurrency market is currently in distress following the massive crash of coins like Bitcoin, Ether, Luna and others. This has resulted in massive sell-offs forcing the combined market capitalization of all cryptocurrencies to fall below a trillion dollars, according to a report by CoinMarketCap. Currently, Bitcoin is trading around $21,867 as at press time.
 
Ether (ETH), the Ethereum blockchain’s native cryptocurrency, fell 18% to $1,222. According to insight by Nairametrics, the latest drop came when the huge crypto lender Celsius, which claimed to possess at least 150,000 bitcoin worth $3.5 billion at current values as recently as April, ceased withdrawals.
 
(Another cryptocurrency company, Nexo, has expressed interest in purchasing part of the platform’s assets.) It was a day of fast-paced events and pronouncements, all of which seemed to confirm how gloomy the crypto markets had become. For the first time since early 2021, the total market capitalization of digital assets lost over $300 billion dollars in a span of a few days with significant losses in tokens such as Solana and meme coins. MicroStrategy (MSTR) led the decline in crypto-related stocks.
 
The pioneer crypto-asset withdrawals have been temporarily halted on Binance (reportedly due to technical issues) but at the time of writing it was back online. Crypto.com and BlockFi, a cryptocurrency lender, both announced employment cutbacks. Sentiment for cryptos is horrible. Tron’s USDD stablecoin wobbled off its $1 peg. Bitcoin is attempting to create a base, but if it falls below $20,000, things could become considerably worse.
 
As the broader markets were under significant pressure, the agony in digital assets increased. The Standard & Poor’s 500 Index fell 4% to a new all-time low for the year. The main cause seems to be fresh investor concerns that the US Federal Reserve may be forced to tighten monetary policy forcefully in order to combat inflation, which is at its highest level in four decades.
 
The flagship crypto had its biggest decrease in a year as indicators emerged that the steep correction in crypto markets is harming significant industry participants and placing digital-asset projects under a lot of stress.


Posted: at 14-06-2022 03:09 PM (5 months ago) | Hero
- gogoman at 14-06-2022 03:12 PM (5 months ago)
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Posted: at 14-06-2022 03:12 PM (5 months ago) | Grande Master
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- constigoldo at 14-06-2022 04:23 PM (5 months ago)
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Posted: at 14-06-2022 04:23 PM (5 months ago) | Hero
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- Kidfreshfunmi at 14-06-2022 05:42 PM (5 months ago)
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Puh-leehz!...Stacking - Those - Sats! What better time to stack than when the price dumps?
Posted: at 14-06-2022 05:42 PM (5 months ago) | Upcoming
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- nikiniki at 15-06-2022 05:03 PM (5 months ago)
(f)
Quote from: Kidfreshfunmi on 14-06-2022 05:42 PM
Puh-leehz!...Stacking - Those - Sats! What better time to stack than when the price dumps?
tell them my brother! this is the time to buy those dream stocks and coins
Posted: at 15-06-2022 05:03 PM (5 months ago) | Gistmaniac
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- CatinBox at 18-06-2022 08:44 PM (5 months ago)
(m)
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Posted: at 18-06-2022 08:44 PM (5 months ago) | Newbie
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- KennethAllen at 27-07-2022 11:43 AM (4 months ago)
(m)
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Posted: at 27-07-2022 11:43 AM (4 months ago) | Newbie
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- Lucas437 at 29-07-2022 02:17 PM (4 months ago)
(m)
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Posted: at 29-07-2022 02:17 PM (4 months ago) | Newbie
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- MollyRed3 at 27-10-2022 08:04 PM (1 month ago)
(m)
Another option is https://exolix.com/currencies-pairs/usdt-to-btc , which also offers both trading and exchange services. This exchange site offers a Quick Exchange feature, which lets you enter the amount you'd like to exchange and select the currency that you'd like to receive. It's quick and easy, and allows you to get your exchanged currency in just minutes. EXMO also offers a customer service center and provides record-breaking technical support. Their support team is available 24 hours a day.
Posted: at 27-10-2022 08:04 PM (1 month ago) | Newbie
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- kate_234 at 16-11-2022 11:17 AM (3 weeks ago)
(f)
Hi all. I am new to crypto. I think I need advice from people who understand this area. Can someone help me here? Thank you in advance for your answers!
Posted: at 16-11-2022 11:17 AM (3 weeks ago) | Newbie
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- eopiti at 20-11-2022 04:25 PM (2 weeks ago)
(m)
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Posted: at 20-11-2022 04:25 PM (2 weeks ago) | Newbie
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- Gistre at 24-11-2022 02:59 PM (1 week ago)
(m)
Buying crypto tokens with https://j2tx.com/token has become very easy, as the process of buying and selling cryptocurrency has been greatly simplified over the past few months. The most common and acceptable way to pay for buying cryptocurrency is with a credit card. Different sites accept different payment methods, but for me the most reliable is only j2tx.com.
Posted: at 24-11-2022 02:59 PM (1 week ago) | Newbie
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