Is There Still Hope For Crypto Market

How Low Can BTC and ETH Go?

As of writing, this BTC is $26,959 and ETH is $1830. This is a terrible day for crypto lovers. Just in a couple of days, Bitcoin has lost over $200 billion and Ethereum has lost almost $300 billion. Over 1 trillion USD has been wiped out from the Crypto Market. This is the lowest level Bitcoin has gone to since July 2021.

What do you think is the reason behind this crash? How low BTC, ETH, and all other cryptos can go down?

According to Steven McClurg, co-founder of Valkyrie, an asset management firm, the price of crypto will continue to fall and the reason behind this is the inflation in the United States. Another reason for the market fall is Macro Fears.

In order to combat inflation Federal Reserve increases the interest rates, which is also one of the reasons for the crypto market crash. If the Fed continues to raise interest rates, the price of cryptos will continue to fall.

During the last bearish run (in 2021, Bitcoin had gone below $30K. This time also Bitcoin has gone below $30K. When in 2021, Bitcoin went below $30K a lot of people, including those so-called crypto experts, started saying that Bitcoin will go back to $20K, or even below $10K, however, that did not happen, just in a few days, the price began to improve. This time also when Bitcoin is on the bearish run for some time, people are saying that the price will continue to go down, and some crypto haters are even saying that this is the end of crypto. People make assumptions, they soon become too enthusiastic or soon become depressed. When Bitcoin was at an all-time high of $69K, people started saying Bitcoin will not become $100K but it did not happen. The price of bitcoin and all other cryptocurrencies depends on a lot of things, such as government policy, market situation, or even unrelated things such as stock market performance. The price of Bitcoin and other cryptocurrencies started dropping when Biden Administration introduced a bill that was not favorable to crypto, and the war in Ukraine made everything worse.

Future of Cardano: Is ADA Still Profitable

Even though Cardano has gained value slightly, two days ago ADA went as low as 36 cents. That was the lowest value of ADA in a long time, in fact, the lowest value since 2018. Now, the investors have taken a sigh of relief because the value did not go below 36 cents, instead, regained slightly. People were already questioning where is the rock bottom for ADA.

The price of Cardano moves alongside Bitcoin, when Bitcoin gains value, ADA will also gain value, likewise, when Bitcoin loses value, ADA will also lose value. Since Bitcoin went below $27K, Cardano also rock bottomed at 36 cents, when bitcoin gained slight value, Cardano also gained value.

If you are holding ADA, you should not worry about the current bearish market as Cardano has a huge potential. It is still in the development process and the project is funding its development through the take sales, that’s why the price did not move up even long before this bearish run.

If you believe in the power of cryptocurrencies and believe that the crypto market will grow in the future, this is the time to flex your muscles in buying crypto. The current price of bitcoin is $32K, back in November, it was $69K The price of bitcoin has gone down by more than 50 percent from its all-time high price. Not just bitcoin, Ethereum, and all other crypto coins have done so low that those who believe in crypto have the opportunity to make a lot of money by investing in crypto once the market starts improving. Sadly, small investors like us who are in limited funds cannot make use of this bearish market even though we believe that this is a temporary situation and will gain value in the recent future. I am not panic selling, I am holding my crypto even though I have lost 66 percent of the money with my crypto investment. I started buying ADA when it was $2.56, the last time I bought ADA, it was $1.10 and now the price is 66 cents, you can imagine how much money I lost. I began buying Matic when it was $2 and now it is 94 cents.