Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: coingabbarmarket on October 12, 2022, 02:32:31 PM
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Overnight, the cryptocurrency market went negative, and strong pessimistic sentiment is now there.
In the previous day, Ethereum plunged more than 3% while Bitcoin dropped by around 2%. At the time of writing, BTC is worth $19,107 and ETH is at $1,286. The market for crypto altcoins as a whole is, however, experiencing a severe slump.
In the past 24 hours, Ripple's XRP has broken from its strong surge and fallen close to 7%. Cardano and Solana, on the other hand, persisted in their descent. Cardano dropped by 6%, while Solana dropped about 4%. Chainlink is in trouble despite having solid fundamentals because of negative macroeconomic circumstances. It has dropped 4% more in the previous 24 hours to trade at $7.22.
Read More - [https://www.coingabbar.com/en/crypto-currency-news-english/causes-todays-crypto-crash-altcoins-turn-deep-red]
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The biggest reason is dumped by whales and it is something usual to happen during the bearish season. Everyone knows that we are still in the bearish season, so why so surprised about the crash? To be honest, during the bearish season, I don't really care about the price drop since it is what should happen naturally. It is different when we are in the bullish season, we must expect much on the rising trend.
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I just get into the CMC site and yes I am right now seeing a wave of red algae affecting Bitcoin and so many altcoins...with the usual exemption of stablecoins, of course. Now, because we are in the bearish market there is no choice but to go the same thing over and over again...until the bulls can be taking over. I am sure in the next few days there will be a favorable wind and Bitcoin and altcoins can be growing a little just enough to convince us never to lose hope and continue on holding on.
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in the past few weeks I have not opened CMC, after reading this thread I checked it was true that the market was in red,
but don't worry, isn't it a common thing in a bearish season like this,
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there may be quite a lot of reasons, first of all, the situation in the world is probably not stable, it may be inflation, an economic crisis in developing countries, or just whales lowering the price...but I am inclined to the unstable situation in the economic sphere in large
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there may be quite a lot of reasons, first of all, the situation in the world is probably not stable, it may be inflation, an economic crisis in developing countries, or just whales lowering the price...but I am inclined to the unstable situation in the economic sphere in large
In my opinion, what causes crypto crash because It's bearish season, economic crisis and inflation in several countries.
But don't worry, I think it's just temporary.
We will see crypto price goes up again at the end of this year.
Although won't touch ATH, but more expensive than now.
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Nothing new bro. It's crypto. Such events are totally normal though I don't have an idea why this particular one happened, maybe its the pre Christmas crash we have been awaiting
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A fall in the price of a cryptocurrency during the bear season by only a few percent is absolutely normal in this market. It is not even worth looking for the reason for such a fall. If the fall was 30-50 percent, then this was probably the reason. But this market experienced a fall and more serious. You need to get used to the fact that this is the most volatile market in terms of prices. It is in the stock market that a 10-20 percent drop is shocking, but here it is in the order of things. Today the market fell, and tomorrow it will rise.
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