Recommended
Crypto Price Analysis: BTC Plummeted Below $42000
2022/04/12By:
The cryptocurrency market turned red again, and the daily prices of Terra, Polkadot and many others fell sharply.
Bitcoin was rejected again at $43000, and the bear market pushed the asset below $42000. Most altcoins are also deep in losses, with ETH close to $3100. The total market value fell to just over $1.9 trillion.
Bitcoin Tested $42000
Just a week ago, the main cryptocurrency tried to break through $47000, but failed twice. On the contrary, the asset began to depreciate gradually and fell to $45000 a day later.The bear market has dominated the market and pushed it south again. At first, BTC fell to $44000, then plummeted to $43000, the lowest price point in more than two weeks.
In the following days, bitcoin remained between $43000 and $44000. However, its inability to climb above the latter means more trouble. This time, as reported yesterday, it fell to $42000.
A few hours later, it rebounded and briefly exceeded $43000, but the bear market came again, driving it to the south below ath $42000 in January 2021, where it is now. As a result, its market value fell below $800 billion for the first time in nearly three weeks.
Download App for Android | Download App for iOS |
The Altcoins Returned to Red
Altcoins calmed down yesterday after the recent price drop, but the past 24 hours mean more trouble. Ethereum fell 4% that day, just above $3100. It is worth noting that ETH jumped above $3500 last week, reaching a three-month high.
The callback ranges of Binance coin, Solana, Dogecoin, Shiba Inu were similar, while ripple and Cardano fell by more than 5%.
The losses of Terra (- 9%), Avalanche (- 7%), Polkadot (- 8%) and near protocol (- 8%) were more obvious. The cumulative market value of all cryptocurrency assets has fallen to just over $1.9 trillion, which means that the index has decreased by $250 billion in about a week.
Register now to begin your crypto journey
Download the BTCC app via App Store or Google Play
Follow us
Scan to download
- Terms & Agreement
Quick Links
Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.
The world’s longest-running cryptocurrency exchange since 2011 © 2011-2024 BTCC.com. All rights reserved