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Cryptocurrency Market Crash in 2022: Here are What You Should Know
2022/07/04By: C, Fiona
The Cryptocurrency market is in a severe dilemma. The bear market has led many cryptocurrency investors to rethink their future cryptocurrency investments. How did cryptocurrency come to this stage? What else is waiting for us? In this article, we’re taking a closer look at the cryptocurrency market crash in 2022 and everything you should know about it.
Abstract
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- The crypto market recently hit the lowest market cap.
- Bitcoin is trading at its lowest level since December 2020
- Analysts say global inflation was the main reason for the crash
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Present Situation
2021 is one of the best years for crypto investors. When Bitcoin hit an all-time high of $69,000 (Rs 54.5 lakh) in November 2021, Bitcoin’s overall market value reached nearly$3 trillion. Crypto analysts and evangelists predict that Bitcoin will cross the $100,000 mark before the end of the year. Little do they know the worst is yet to come.
In January 2022, the cryptocurrency market fell below the $2 trillion mark and then everything went down except for the slight recovery in April. At the time of writing, the largest cryptocurrency in the world, Bitcoin, is trading at $19,165 (about 15 lakhs) with a 7-day drop of 8.47%. This is close to a multi-year low.
Overall, its value has fallen about 70% from last year’s all-time high in November, while other tokens such as Dogecoin, Avalanche, and Solana, among others, have hit 90%. To date, the total crypto market capitalization is currently $860 billion.
How Did Cryptocurrency Market Crash Come About?
- Overvaluation for most money projects electronic.
- The gloom caused by the Russia-Ukraine conflict and COVID-related lockdowns.
- Governments are getting tougher on cryptocurrencies.
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Worries About Regulation
Although many cryptocurrency investors believe that these regulations are an attempt to dissuade people from investing in cryptocurrency, others worry that a comprehensive ban may be implemented in the future, as in China or Egypt.
The One Who is Submissive
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How Should Investors Deal with this Problem?
Register now to begin your crypto journey
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