No voice now rises above the sound of the big drop in the cryptocurrency market, on top of which the main currency in this world is Bitcoin.
Bitcoin has been subjected to a significant and continuous drop in price for more than two consecutive months, and the decline is still continuing until this moment, none of the analysts knows when this bleeding in the market value of bitcoin can be stopped, along with a large number of other electronic currencies that were affected by the collapse of the largest currency in this area, on which the progress in the volume of investments in the crypto field is measured.
What is happening in the bitcoin market?
- Bitcoin is the dominant currency in the altcoin trading market; it alone accounts for more than 46% of the trading volume in these markets on various platforms.
- The price of bitcoin has fallen sharply and significantly during the recent period; after a sudden rise in which the price of the currency reached more than 69 thousand US dollars and almost approached the threshold of 70 thousand, but now it is struggling at the price of 17 thousand US dollars per coin, and at this price, Bitcoin goes back specifically to 2017.
- Bitcoin first reached this price on the way to a big rise, which investors expected would continue to rise until it touches the price of 100 thousand US dollars for one bitcoin.
cryptocurrency bitcoin price
- Several economic and political events on the international scene have recently contributed to pushing the price of bitcoin back, the most important of which is the large inflation witnessed by the United States of America, which was accompanied by the rise of the US dollar against other currencies, especially Bitcoin.
- Conflicts and war in eastern Europe contributed to an increase in this sharp decline in the prices of the crypto market in general, as well as the collapse of the Terra ecosystem and the decline of its currencies had a very significant impact on price volatility, with the incident of the Sirius lending network also stopped.
- Bitcoin has fallen in the last 24 hours only about 3% of its price and also its market value, and the collapse is constantly increasing daily in terms of the percentage of loss.
cryptocurrency bitcoin price
- While the cryptocurrency market was worth more than Dollars 3 trillion at its peak 7 months ago, it has fallen below a trillion dollars, after reaching 3 3,000 billion last November.
- The freezing of bitcoin withdrawals from the world's largest platform, "Binance", this week contributed to the decline in investment in cryptocurrencies.
bitcoin price USD
- The platform "Coinbase", for its part, announced that it will eliminate 18 percent of the jobs in it, that is, about 1100 positions.
- Co-founder and general manager of Quinnipiac Brian Armstrong justified the large-scale expulsions as apparently related to "a recession phase that we are entering after an economic boom that lasted more than 10 years".
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