Cryptocurrency News Bitcoin Market Crash Bitcoin Loss 50 up to percent Know the reason behind it


Bitcoin Market Crash: For some time now, nothing is going well in the cryptocurrency market. The world’s largest digital currency (Bitcoin), including many other cryptocurrencies, is witnessing a steady decline. Saturday, i.e. on January 22nd, Bitcoin had to face a violent fall (the crypto market crash). It was at its peak in November 2021, but since then it has registered a steady decline. Its market cap of Bitcoin has fallen by more than $600 billion. At the same time, its total crypto market has lost more than $1 trillion. This is a huge loss for bitcoin and the overall crypto market. Along with this, it is also a huge loss in terms of dollars.

registered such a fall
According to coinmarketcap, a 9.92 percent drop in the market value of bitcoin was recorded until 17 on Saturday, January 22, 2022. It came down to less than $35,000. If you talk about the last week, it has experienced a drop of around 18.81 percent. At the same time, a large drop was also recorded in Ethereum, the second largest currency after bitcoin. It is also trending below $24,000. In the past 1 week, it has also registered a drop of 28 percent.

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what is the reason for the fall
According to reports, cryptocurrencies have suffered tremendously (losses to crypto market) worldwide in the last few days. The main reason for the decline in cryptocurrencies is inflation, liquidity and the US Federal Reserve. Because of all this, there is an atmosphere of fear in the market. Along with this, the main reason for the decrease in the value of cryptocurrencies is that the Central Bank of Russia has proposed to ban their mining in the country.

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Let us tell you that citing threats to citizens’ well-being, financial stability and monetary sovereignty, it has been proposed to ban the use and mining of cryptocurrencies in the country. Russia claims that cryptocurrencies are being used for terrorist financing and money laundering.


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