Bitcoin has dropped to $ 25,000 – what’s going on and how far the market may go? – Cryptomagazine

Bitcoin has dropped to $ 25,000 – what’s going on and how far the market may go? Source: https://www.shutterstock.com/pakie Bitcoin today began another decline. This time the price of the largest cryptocurrency dropped to 25,570 and the whole cryptomen market falls with it. What is happening and where can the price fall? Bitcoin is falling Investors woke up to another “red morning” today. The largest cryptocurrency continues to decline, which has lasted for several days. Along with Bitcoin, there is also a market for altcoins, but also classic markets. Indices such as the Nasdaq and the S&P 500 Index have also been declining since the morning. Gold and silver also declined in the morning. The causes of these declines must be found in the not best global economic situation. According to the US Federal Reserve, inflation fell in April (8.3%) from March (8.5%), but the decline was not as large as market analysts and investors expected. Read also: The Fed announced inflation for the month of April – markets react to the decline The case around Terra, which became the target of attacks by large investors, also contributed to the decline of digital currencies led by Bitcoin. In a few days, they dropped the price of the LUNA token from $ 86 to the current 0.037 cents. The decentralized stablecoin UST, which was massively shortened by whales along with bitcoins that Terra sold at a loss to stabilize the UST, also became the target of the attack. The result was a panic in the market, a big sale of LUNA and UST tokens. Bitcoins began to flow in bulk on the stock exchanges, and long-term BTCs began to sell, dropping the price to 25,000 in a short time. Shop and trade cryptocurrencies at Binance, the best and cheapest stock exchange in the world. In cooperation, we have prepared special discounts and a bonus of up to 50 USD! Create an account via >>> our link <<< and get a lifetime 5% discount on business fees. Instructions on how to buy and trade cryptomens easily and cheaply can be found in this article. How far can the market fall? The cryptomen market correlates with the stock market, but the extent to which cryptocurrencies and bitcoin fall is not determined by the percentage of the stock market decline. This means that even if classical markets fall by only a percent or two, cryptocurrencies fall calmly by 10 percent or more. The decline in the cryptomen market cannot be reduced to a correlation with the stock market, as the cryptocurrency sector is also subject to special fundamentals that determine market developments. The current fundamentals are, in fact, very negative. Bitcoin lost 35% of its value in just one week and fell to 25,500. Chart: BTC / USD. 1D. Binance. Source: Tradingview The first level we are monitoring is the long-announced MA 200, which is at a price of 22,000. Bitcoin is not far from this price and has approached it in a very short time. Bitcoin has bounced back from this historic level in the past. If we break through this level as well, much more threatening scenarios come to the scene, which, however, is not yet important to solve in the current situation. Although we never know what else may happen in the near future, and as big players turn to an unregulated market, it can be said for now: welcome to the bear market. Read more: Long-term Bitcoin holders are beginning to surrender amid panic Do you like this article? We publish the latest information (not only) from the world of cryptocurrencies on a daily basis. Follow us on Facebook and don't miss the new articles.

Do you like this article? We publish the latest information (not only) from the world of cryptocurrencies on a daily basis. Follow us on Facebook and don’t miss the new articles.