Why is the price of bitcoin and other cryptocurrencies falling
Ethereum FUD levels have not been this high for a long time. As Ethereum’s price has been struggling to keep up with the other Kryptos.
It's been a rude awakening for the millions of people who bought cryptocurrencies, especially if they got into the craze last year. Bitcoin falling A day later, Coinbase, the largest U.S. cryptocurrency platform, was also sued.
When is bitcoin going down
Bitcoin and other cryptocurrencies have crashed further as a massive sell-off continues to roil the cryptocurrency market. 2.1 Cryptocurrency data description An advertisement for bitcoin is displayed on a street in Hong Kong on Feb. 17, 2022. Following a gloomy federal inflation report released Wednesday morning, bitcoin, ethereum and other popular cryptocurrencies saw further decline in their valuations, continuing a trend that’s been in play since digital currencies hit peak highs late last year.
How it's going
Cryptocurrencies saw huge losses on Thursday, with Bitcoin plummeting by over 9% on the day. Many crypto traders are already calling the sudden drop a flash crash. The exact reasons behind this abrupt move lower are somewhat unclear, and various theories are currently circulating regarding what drove the declines. 3.1 Cryptocurrencies’ behaviour during the crash. Whether the crypto slide continues remains to be seen. Some believe that things will only get worse as more and more investors panic. But after the price of Bitcoin dropped below $30,000, its price corrected when evangelists “bought the dip,” or entered the market at a discounted rate. They believe that amidst its day-to-day turbulence, Bitcoin will continue its zoomed-out growth pattern that it has displayed over the last decade.