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Bitcoin record low: crypto market loses more than 30 percent in 7 days

Bitcoin and Ethereum are rebounding from their lows after their record-breaking slide. It is now down more than 30 percent in a week and it is unclear if prices will recover. Just a few days ago, we reported that Bitcoin cryptocurrency was losing more and more value and scratching the magical $20,000 mark. Bitcoin has since bottomed out at $18,000 and has bounced back a bit.

Bitcoin fell to its lowest level since late 2020. The reasons for this are many. Noisy Bloomberg this was also a record-breaking 12-day price drop. There have always been falls in value in Bitcoin’s history – and the cryptocurrency has bounced back time and again and later headed for a new all-time high. Infographic Trading Bitcoin, and ETH: Where Crypto Fans Cashed In in 2021 The crypto market as a whole is now at a fraction of what it was at the end of 2021 when Bitcoin traded for about $69,000.

Cryptocurrency’s total market cap was $881 billion on Sunday, less than a third of its November 2021 level, according to Bloomberg. Ethereum fell a whopping 19 percent to $881, its lowest level since January 2021.

A quite Negative mood

“What we’re seeing is more liquidations driving down prices and sentiment, which in turn leads to more liquidations and negative sentiment – ​​some flushing is still needed, but that will eventually wear off,” said Noelle Acheson, head of Market Insights at Genesis, one of the largest and most well-known lenders in the digital asset space.

Mark Goodman

Digital marketing enthusiast and industry professional in Digital technologies, Technology News, Mobile phones, software, gadgets with vast experience in the tech industry, I have a keen interest in technology, News breaking.

1 thought on “Bitcoin record low: crypto market loses more than 30 percent in 7 days

  1. Pingback: cryptotrh mất hơn 30% trong 7 ngày – Research Snipers – CryptoBeezer Việt Nam

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