In short: Bitcoin's price falls below $28,000 for the first time in a week, with other altcoins experiencing similar drops. Ethereum has declined to $1,850, while Binance Coin, Cardano, Dogecoin, Solana, Tron, and Litecoin have seen 3-4% declines, and other altcoins like Polygon, Ripple, Shiba Inu and Avalanche have dropped by 5% or more. The total crypto market cap dropped $40 billion daily and $60 billion in the past two days.
Our quick analysis:
Bitcoin and its fellow altcoins have seen better days as their prices continue to plummet. Over the weekend, Bitcoin fell below the $28,000 mark for the first time in a week, leaving investors in a state of panic.
While Bitcoin attempted to surge to just under $30,000 last Friday, the bears came out to play and sent the asset on a downward spiral. The price of Bitcoin has slipped rapidly and is struggling to reclaim any semblance of stability.
Altcoins have borne the brunt of this volatility as well. Ethereum, Binance Coin, Cardano, Dogecoin, Solana, Tron, and Litecoin have all declined by 3-4%. While larger cap alts like Polygon, Ripple, Shiba Inu, and Avalanche have experienced significant drops of 5% or more.
The total cryptocurrency market cap has declined by $60 billion in the past two days, leaving investors holding their breath in anticipation of what could come next.
Whether this trend continues or sees a reversal is anyone's guess, but it's clear that investing in crypto is not for the fainthearted. As the market fluctuates, investors must stay vigilant and prepare to weather any storm that may come their way.
In this volatile market, it's important to remember the golden rule of investing: only invest what you're willing to lose. Until the markets stabilize, it's best to proceed with caution.
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
Our quick analysis:
Bitcoin and its fellow altcoins have seen better days as their prices continue to plummet. Over the weekend, Bitcoin fell below the $28,000 mark for the first time in a week, leaving investors in a state of panic.
While Bitcoin attempted to surge to just under $30,000 last Friday, the bears came out to play and sent the asset on a downward spiral. The price of Bitcoin has slipped rapidly and is struggling to reclaim any semblance of stability.
Altcoins have borne the brunt of this volatility as well. Ethereum, Binance Coin, Cardano, Dogecoin, Solana, Tron, and Litecoin have all declined by 3-4%. While larger cap alts like Polygon, Ripple, Shiba Inu, and Avalanche have experienced significant drops of 5% or more.
The total cryptocurrency market cap has declined by $60 billion in the past two days, leaving investors holding their breath in anticipation of what could come next.
Whether this trend continues or sees a reversal is anyone's guess, but it's clear that investing in crypto is not for the fainthearted. As the market fluctuates, investors must stay vigilant and prepare to weather any storm that may come their way.
In this volatile market, it's important to remember the golden rule of investing: only invest what you're willing to lose. Until the markets stabilize, it's best to proceed with caution.
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
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Please, behave!