Once again the cryptocurrency king Bitcoin has come down to the $40,000 mark. Following Bitcoin, Ethereum and many other main altcoins depreciated in a great manner. All the investors are in a panic while an unnecessary selling power has been created.
With the global economy upside, down the Russian Ukraine geopolitical issue still remains in the world economy with a bad sense. However, down falling now has been a normal thing to cryptocurrency investors. Over the past few months market went down a few times.
In 2021 after Achieving its all-time high of $68,990 without even completing a one-year time period it slumped again to the $35,000 mark. After the great downfall market was slightly recovering from its own power despite fundamentals and technical signals backing it.
However, after having a significant green time market slumped back to the $40,000 mark. February 17, was a 7.03% downfall for Bitcoin. However today February 18 it has come down to a 2.61%, according to Coinmarketcap.com
Following that Ethereum was down by 4.10%, XRP was down 2.3%, Solana 4.27% Terra 50.78%, Cardano 2.40%, and Polkadot 2.01%
The Global Cryptocurrency market was down nearly by 7%. The global cryptocurrency market capital is recently held an amount of 1.82T.
These days investors traders and everyone can see the volatility. The cryptocurrency market was growing strongly and was stable in 2021.
As many investors were attracted to the cryptocurrency market due to this fact. So the market kept growing and growing. Many countries started to ban cryptocurrencies due to security reasons and this made the major downfall.
However many experts still say the market will quickly recover but the process is still slow. The above market analysis also shows the signs of downfall and it shows the market won’t recover as soon as possible.