• Wed. Jun 22nd, 2022

Crypto market loses over 30% in 7 days – Research Snipers

ByHazel R. Lang

Jun 19, 2022

Bitcoin and Ethereum bounce back from record lows. It is now down more than 30% in a week and it is unclear if prices will recover. Just a few days ago, we reported that the Bitcoin cryptocurrency was losing more and more value and hitting the magic $20,000 mark. Bitcoin has since hit a low of $18,000 and rebounded a bit.

Bitcoin has fallen to its lowest level since the end of 2020. The reasons for this are multiple. Noisy Bloomberg, it was also a record 12-day price drop. There have always been declines in Bitcoin’s history – and the cryptocurrency has rebounded time and time again and then headed for a new all-time high. Bitcoin and ETH Trading Infographic: Where Crypto Fans Cashed in 2021

The cryptocurrency’s total market capitalization was $881 billion on Sunday, less than a third of its November 2021 level, according to Bloomberg. Ethereum fell 19% to $881, its lowest level since January 2021.

A rather negative mood

“What we’re seeing is more liquidations driving down prices and sentiment, which in turn leads to more liquidations and negative sentiment – ​​some rinsing is still needed, but that will eventually fade” , said Noelle Acheson, head of Market Insights. at Genesis, one of the largest and best-known digital asset lenders.

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