Crypto falling
Rule #1 Temporary Headwinds Or Structural Issues
Bitcoin has closely been related to the U.S. equity market (largely tech stocks) and has dipped in price whenever America's central bank has tightened monetary policy. Although many investors have cheered for Bitcoin's decoupling from stocks a few times over, it hasn't happened yet. Crypto prices dropping Bitcoin took a brutal fall on Monday, briefly dipping below $30,000 for the first time since July 2021. The world’s largest cryptocurrency is now worth less than half of what it was in the fall. Other cryptocurrencies, like Ether and BNB, have seen similar falls, while trading volumes have also tapered off on major exchanges. Some experts are now warning of a “crypto winter,” in which the sector’s astonishing growth is replaced by an extended period of contraction.
Why is bitcoin so low
The covid outbreak caused havoc and every financial asset lost its value. However, one sector was particularly booming—the crypto sector. January 2020 was a good month for crypto assets with the trading volume spiking from $200 billion to $255 billion. Could Bitcoin Ever Drop to Zero? Shortly after this, FTX filed for bankruptcy. This was huge news, as FTX had established itself as a successful and reputable platform. This gave investors cold feet and led to another market-wide crash, likely prolonging the so-called "crypto winter." Bitcoin's price, already far lower than it was at the start of the year, took another downturn, dropping by over 25% in less than a week. This solidified 2022 as one of the worst years crypto had ever seen.
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Moreover, the euphoria that the crypto market experienced back in June seems to be facing the reality check of decreased inflows. This has been accompanied by a cooling off of the decentralized finance (DeFi) and non-fungible token (NFT) sectors, which had previously attracted significant investment and attention. Neither field is showing significant growth trends in terms of total value locked (TVL) or inflows, indicating a potential shift in market sentiment. XRP Soars 70% and Surpasses BNB as Coinbase and Kraken Announce Relisting As he grappled with anxieties related to his family, sexuality, and fear of AIDS — to which he would succumb at the age of 33 — Ellis meticulously documented his life.