Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: Zero0 on May 23, 2021, 06:30:55 AM
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On Wednesday, a broad crypto crash wiped out about $1 trillion in market value — a staggering drop from $2.5 trillion just a week ago. Bitcoin, which accounts for more than 40% of the global crypto market, nosedived 30% to $30,000 on Wednesday, its lowest point since January.
More Information
https://www.google.com/amp/s/amp.cnn.com/cnn/2021/05/22/investing/crypto-crash-bitcoin-regulation/index.html
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Well, with this you have to come to terms. The cryptocurrency market has very greater volatility and therefore even such a significant price drop is considered normal for it. In the first half of 2018, Bitcoin lost about 70 percent of its price, and altcoins up to 90 - 95 percent. However, after that, about two years, the cryptocurrency market was bearish. I hope this time the market will rise much faster.
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On Wednesday there was a big crash in Bitcoin and in crypto currency market .Yes Total market cap has decreased from 2.5 T$ to 1.5 T$. There was a big Red Daily candle of more than 10000$. AS 1T$ has get out from market . BTC had decreased from 43k to 30k in a single day.Now Market is struggling to stable at any point.I think with in 2-3 weeks Market would be normal and we can see new rise in the market.
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The volatility of cryptocurrency, and in particular bitcoin, has always been very high, all crypto traders have always remembered this, this is a risk and even a very high risk. But we know what abilities Bitcoin has and how it can rise even from the lowest depths, you just need to be patient and wait, even if it takes years.
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Bitcoin can pumped like hell and can go down like a demon. Nothing surprising at all. When the coin is going up hard, everybody is rejoicing and when it is going down everybody is silent. We will just allow Bitcoin to do its thing because just like before it will not be taking a lot of time before it can get back on its feet and be on the running again. We are in the time of "discounted" bull run, as one crypto media haas described it.
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when your grandmother and your son's bus driver ask about bitcoin (and dogecoin!) one should've known a correction in crypto was going to happen soon. consolidation could be good for true believers and won't stop innovation in the underlying technology to keep the space going strong.