2022 Crypto Crash ; Bitcoin Dropped More Than 32% Since Month Start
Global Cryptocurrency Chart
Currently Worth Around $1.6 Trillion
With the year 2022 just underway the crypto market has once again shaking up more and more investors are starting to see and get a taste of just how volatile the cryptocurrency market can be. In today’s article I will going over rather I believe why investors are pulling , are we in a bearish panic sell, or is the end of crypto as we know.
More Than $1 Trillion Wiped In Market Value
Since Bitcoin’s all-time high of around $68000 back in early November of last year and now has a resistance at around 35000, (at the time of this typo) things have been looking bearish and red not just for Bitcoin, But the entire market. Mostly all leading Tokens and Alt coins like Ethereum, Cardano, Stellar, etc have all taken a deep I’ve into the red for the moment, yet over 239,000 traders have had their positions closed over the past 48 hours, with liquidations & smart contracts totaling roughly $874 million, according to data from Coin-Glass, a cryptocurrency futures trading and information platform. We’ve seen these type of panic sells before so I do believe we will be back in the green soon and should try to stay optimistic about the long hold and future of crypto.
Feds Getting into Crypto & Federal Digital Currency
If you’ve been following crypto since the new year than you’ve probably scroll across stories about the Fed’s making a digital dollar or stable-coin backed by the US that is believed to make faster money transfers for the banking system, also since late December to the beginning of the year Fed officials have been in talks that inflation readings and tight labor conditions could warrant an interest rate increase sooner than most investors expected. The minutes, from the Dec. 14-15 meeting of the bank’s monetary-policy committee, also said that the Feds may start to peel back its $8.8 trillion balance sheet soon after raising its benchmark federal-funds rate.
NYC Mayor Get Paid In BTC and ETH
Mayor Eric Adam received and confirmed his first paycheck in Crypto which arrived thus past Friday through crypto exchange Coinbase. Mayor Eric has a bright vision for NYC, He stated in a report that he wants New York to be the center of cryptocurrency and other financial innovations. Now I don’t believe Eric has much of and effect on which way the market trades swing like some may say Elon Mush tries but I do believe this is all just part of helping, supporting and adopting of the new way financial innovation of digital spending.
Bearish Trend Or End Of Crypto ?
I would say were coming to and end of the bearish side of the markets I don’t know about Crypto leaving anywhere any time soon with the trends of NFT’s, the development of Web3, and almost everyone starting to take of different aspects of the Metaverse I would say were in more of a phase than the end of crypto as we know it. So the best advice I can give my viewers is stay strong go green and go for the long hold.
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