Why Crypto Collapse?

Crypto Downfall

 Crypto Market Crash: Outcry in the crypto market, Bitcoin breaks more than 12 percent, Ethereum investors are in bad condition

Crypto Currency Market Crashed Today: The price of bitcoin, the world's most popular cryptocurrency, fell by 12.02 percent or Rs 2,73,718 to a low of 20,03,985.

Monday turned out to be Black Monday for people investing in cryptocurrencies.
The world's most popular cryptocurrency, bitcoin, fell 12.02 per cent or Rs 2,73,718 to a low of 20,03,985.

Strong fall in Ethereum

By the time the news was written, the price of this digital currency had fallen by 16 percent and its price had broken up to Rs 19,093.

Tether edge up, rest on red mark
On Monday, only Tether Coin appeared to be on the rise amid a strong fall in the crypto market.

Apart from this, almost all the cryptocurrencies traded in the market were seen trading on the red

It’s a similar story for Ethereum, which crashed through the psychological threshold of $2,000 earlier today, down to $1,748.30, marking its worst price position since March 2021.

token itself will be is unclear,” Director and lecturer at the Swinburne University of Technology, Dimitrios Salampasis said in an email statement received this morning. “Algorithmic stablecoins are considered as being inherently fragile and are not stable at all.

The latest crypto crash saw the world’s largest token wipe out all of its 2021 gains after plummeting as much as 11.5% to $27,400 (£22,490) in early trade on Thursday morning in London.

In the last 24 hours,

the market value of the token, which accounts for nearly a third of the $1.8tn cryptocurrency market, decline 11% to $528bn, according to CoinMarketCap.

Last week, bitcoin fell 50% from its $69,000 November 2021 high as global economic and geopolitical headwinds knocked the cryptoasset.

The sell off wiped 15.4% of the entire crypto market, meaning it has now lost more than 50% of its value over the last six months as a market-wide downturn erased over $1.5tn from the market.

Ether (ETH-USD),

the second largest crypto, which underpins the Ethereum network, was hardest hits in the market wipeout after losing over 20% over the last 24 hours. It crashed 27.3% to $1,890 at the time of writing.

Experts say the crash is a “tough pill to swallow” for first-time crypto investors and reinforces the crypto markets “Wild West reputation”.