Why did Crypto CRASH and should you EXIT the market?
On Saturday Crypto market experienced a major crash. The extent of the crash was such that within 24 hours $570 billion was wiped off the market cap of the crypto market. Bitcoin which was trading above $57,000 crashed and was trading just below $45,000 but it later recovered and now it is trading close to $50,000.
The exact reason for the crash of the crypto market has always been difficult to ascertain but this time the major reason for the crash of the crypto market can be attributed to the US government trying to regulate the online legal tender.
Here are few reasons for “Why did Crypto Crash?”:
- The New COVID Variant
The world has been under the grip of Coronovirus for the past 2 years, however, in the last 6 months the world has been recovering and the world economy has responded well to this positive sign.
However, the discovery of a new COVID variant, Omnicorn and it reports of it being more transmissible have created a sense of fear around the world. The world market has responded to it and the fear of the next phase of lockdown has led to both stock and crypto market trading lower.
In response to the new COVID variant, the crypto market has been witnessing a slight downward in the last few days.
2. The US Fed Regulation
On Friday, well-known investor Louis Navellier warned that the US central bank could start “tapering” crypto, which could ruin the market. He said, “The more the Fed tapers, the more volatility we should see in both stocks and bonds—and yes, bitcoin, too.”
Why did Crypto Crash? Some Tweet Threads
This strategy probably does make sense for a vast majority of investors, but everyone’s situation is different. Some people are active traders (short-term), and others are investors (longer term).
#crypto #cryptocrash #cryptocurrency.
This has a strong bearing on what you may need to do in regard to your portfolio. Also, some may be in a position where they got in really early on a coin, have ridden it to a recent high, and made a significant profit.
THREAD: LOOK AWAY. DON’T READ if you are paper hands.Joke aside. The #cryptocrash made evident that most people in the #crypto space are here for the quick gains and don’t really care or ignore the #technology development behind #blockchain. Here are some of these applications.
Most of you, or at least the #CardanoCommunity know by now about @WorldMobileTeam. But how many of you really imagined that they would launch a f… #telecom balloon into the #stratosphere so early in the development of their project? #realfi is closer than you think.
Feeling sad today cause I’m still new to this crypto thing so thought I’d tweet a little thread for anyone else who is new/wants to get in and this crash is scary.
Know who to follow! There are a lot of people in this space spreading lots news. Over the past 6 months, these are the following people I highly recommend for you to follow for reliable news and tips:
@CryptoWhale @AltcoinRadarYT @tokenmetricsinc @elliotrades Most have a YT
1. Know who not to follow blindly! A lot of influences position themselves as “All knowing”. These you must follow with caution.
Why did Crypto Crash? Some Videos
BITCOIN EMERGENCY 🚨 Terrifying Crypto Market Crash Leaves Investors SHOOK
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Index or Individual Stocks. Please consult a registered investment advisor to guide you on your financial decisions.