While cryptocurrency investors waited for records, they began to despair of holding the money in their hands. Saying that Bitcoin will surpass $100,000 this year, experts can do little more than point out support points in the face of the decline. Bitcoin is trading 60 percent off its all-time high of $69,000 last November.
WHAT IS THE REASON FOR FALLING?
The main reason for the decline in cryptocurrencies is the US Federal Reserve’s rate hike measures. The Fed hiked rates 50 basis points to 1%. The Fed, which instituted a policy of raising interest rates to curb rising inflation in the US, announced that it will raise interest rates in the coming months if inflation does not improve. Fed Chairman Jerome Powell announced that they look forward to hikes of 50 basis points each, providing verbal forecasts for June and July.
With this development, while the dollar strengthened in global markets, there was hard selling in US stock markets. There were also declines in cryptocurrencies due to the US stock markets, which collapsed by around 3 percent.
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THE ANXIETY INDEX HIGHER
The fear and greed index for cryptocurrencies has also fallen below 20 after a long time. The index, which is at the 11 level, is considered a signal that sales in the market may continue to rise. Currently, the level of extreme fear in the cryptocurrency market remains.
THE RUSSIA-UKRAINE STORY IS OVER
The stories that have been nurtured since the beginning of the war, such as the difficulties in accessing foreign exchange in Russia and Ukraine and the fact that the Russian people are converting their money into cryptocurrency and protecting its value due to heavy sanctions against Russia, are also over . Although the tendency of the peoples of Russia and Ukraine towards cryptocurrency continues, it turned out that there are no purchases that will ensure the increase. In addition, the ruble had reached 150 at the beginning of the war, but is currently trading at pre-war prices. When the war started with $1 you could buy 154 rubles, while today $1 can buy 69 rubles. In other words, the ruble has appreciated 54 percent against the dollar since the beginning of the war.
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HOW TO INVEST CRYPTOCASH?
There is no margin gap in cryptocurrencies and therefore your money can reach thousands of times at a time while suddenly it can drop to zero. Since it is not dependent on any authority, it is not subject to any rules and laws. Coins bought on any cryptocurrency exchange may evaporate with the shutdown of the cryptocurrency exchange. It is known as the most logical way to store the received cryptocurrency by moving it to a cold wallet. Cryptocurrency exchanges only need to act as an intermediary and then the coins need to be stored in cold wallets. Cryptocurrency exchanges can slow down their systems to protect themselves in the event of a rise or fall, and therefore investors can become victims of trading not being able to take place. Since they do not belong to any authority, almost anyone can make statements about cryptocurrencies and pretend to be an expert. Although many ordinary people do not have the authority on social media, they do offer advice and bully investors. Although explanations are given with graphs, the only change affecting the global economy can ruin all analysis. For this reason, it is necessary to be careful while investing in cryptocurrency and to know well the risks and to update the stop orders daily.
AT LOWEST LEVEL SINCE JANUARY
Bitcoin price hit its lowest level since July this morning. With the recent economic developments and their impact, Bitcoin has fallen to $30,000 $548. Bitcoin is trading at $31,200 down nearly 9 percent.
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ETHEREM UNDER $2500
Ethereum was also headed for a decline after leading cryptocurrency Bitcoin. Ethereum is trading at the $2300 level with a loss of almost 9 percent and is hanging below $2500.
SOLANA MATCH LOSS
On the Solana side, after the historical peak, there is an earthquake-like dip. Solana, which suddenly rose for no reason, caused many investors to suffer. Solana has broken away from its all-time high of $260 and is currently trading at $66, down 13 percent.
RIPPLE ALSO CRACKED
Ripple prices also continue to fall. Ripple, worn out by both recent economic developments and the legal battle, is finding buyers at $0.50, down 12 percent.
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DOGECOIN DOWNLOADED
Dogecoin followed the verbal instructions of billionaire businessman Elon Musk and suffered from the general decline. Dogecoin is trading at $0.108, losing almost 13%.
SHIBA INU FALLING FALLING FALLING
The Shiba Inu, which appeared as a joke and has financial value, fell 18 percent to find buyers at the $0.00001530 level.
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