Crypto Crash News
The crypto market is currently in a state of chaos. Out of the top 10 cryptocurrencies by market capitalization, only Ethereum is in the green, down 1% from its previous price. Bitcoin is currently down 0.22%, trading at USD 37,257.45. This has resulted in a 0.83% drop in the global market capitalization for the entire cryptocurrency market. In November, investors in cryptocurrencies have lost a total of USD 175 million.
Why Crypto Crashed?
There are several reasons why the crypto market has been declining in value. Coin crashes and exchange outages have had a significant impact on prices. Macroeconomic issues, such as higher interest rates, increasing inflation, and financial enforcement actions can also influence people’s confidence to invest in riskier assets. Additionally, a sharp decline in prices may require some investors to release capital to fulfill other commitments.
When the Crypto Market is Going Up Again?
It is not possible to predict with certainty when the crypto market is going to start recovering. However, some analysts believe that Bitcoin will make a strong comeback in 2024 and mark the end of the cryptocurrency winter before its mid-2024 halving. Although prices can and have recovered in the past, it may take several months or even years for them to do so.
