Major Cryptocurrencies including Bitcoin, Ethereum, Cardano and XRP etc. There are several causes which lead to Bitcoin and altcoins losing price value. Bitcoin keeps losing value apart from small events that rose its value. We have mentioned factors below why bitcoin keeps losing price.
Price Analysis – Bitcoin, Ethereum, Cardano and Other Cryptocurrencies Crash Today in the last 24 hours
Cryptocurrency market is facing a bear and bull trend at the same time but mostly bearish trends and crashing in price. The total market cap was down on Monday to 2.2% at 2.34% trillion at 1410 hours GMT and further went down at 2320. The slightest rising trend was seen early this morning on Tuesday.
Bitcoin the leading cryptocurrency’s price also went down to 3.5% by the end of Monday at 2320 and the price stood at $45,940 later the day. Early morning Tuesday it is down about 4.73% which stands at $46,775.07 and the Market Cap is low at $882 billion.
Ethereum the second largest cryptocurrency in line by Market Cap was a bit down too with 1.41 and toggle below $4,000 at $3,978 and its Market cap stood at at $467.6 billion by the end Monday and Early Tuesday it further went down around 1100 GMT stood at $3680 with Market cap further at $448 billion, this is so far the lowest Ether price in the recent times.
XRP later on Monday around 2000 GMT was down 0.42% stood at $0.823 with the market capitalization $82.2 billion while on early Tuesday at 1100 GMT it was down $.7650 which is also its lowest price. In the last 24-hour-time the significant bearish moment has also been recorded.
Cardano (ADA) also faced a downturn with price down 3.18% at $1.30 with a marketcap of $42.6 billion which still continues on Tuesday.
What Causes Bitcoin, Ethereum and other cryptocurrencies crash and lose value?
To top investors the Bitcoin drop is considered as part of the volatility that’s attached to the game of cryptocurrency investment. This volatility is hard for the individual investors to come through and selling-panic is not advised.
There are few factors that caused Bitcoin’s price to go down in 2021 but the fluctuation in the cryptocurrency market exists and it will keep existing. That makes prices go up or down fast. The current cryptocurrency price tumbling specially Bitcoin’s has some apparent factors responsible.
- One of them is a country faced with Corona and its variants. The new variant Omicron has affected the prices of every commodity in the US and Europe so the fluctuation in Bitcoin’s price is also affected
- The new regulatory actions by the U.S. government which are feared by many, especially the big investors. Not just the price of cryptocurrencies is down but the market cap has also seen declining.
- The new legislation is in talks and actions regarding the crypto market and is included in the infrastructure bill. However, the cryptocurrency may not be surprisingly hit by it, but fear remains there.
- More recent events are also due to the new short-term investors who do not find the recent price-drop healthy and they sell their cryptocurrency holdings in panic, according to a report from Glassnode Insights, a firm that analyzes blockchains.
- The recent Bitcoin price drop is also the combination of several factors, from excitement about new low value coins, to remarks of celebrities like Elon Musk to China’s crackdown on Bitcoin and other cryptocurrency services. All these factors have affected the price of Bitcoin, Ethereum and the thousands of other cryptocurrencies that follow afterwards.