Bitcoin News Today | Why Bitcoin Crash 2022

Bitcoin News Today: The price of the cryptocurrency bitcoin fell below $ 21 thousand, According to analysts, the price of bitcoin could drop to $14,000 this year.

Bitcoin Crash: Top cryptocurrency Bitcoin (BTC) fell to nearly $20,000 per coin on Friday. Bitcoin was at this level about five years ago. The global crypto market is trading around Rs 20,000 to Rs 21,000 per BTC crashing due to a weak macroeconomic environment and systemic risk from within the crypto space.

Also Read This:- What is an index fund & how does it work

How far can the bitcoin crash, Bitcoin News?

According to analysts, the price of bitcoin could drop to $14,000 this year. A potential lower range of $14,000 would represent a drop of nearly 80 percent for bitcoin from its all-time high of $68,000. VentureFounder, a contributor to the on-chain analytics platform Cryptoquant, tweeted, “In the next 670 days, BTC will arm and reach the bottom of the cycle (from 14 thousand to 21 thousand dollars), then by 2023 at about 40 thousand dollars will reach again.

Also Read This:- How to become Crorepati from stock market

The bitcoin crashed from 49,000 to 20,000 dollars

Bitcoin fell for almost 12 straight weeks. The price has fallen from around $49,000 in March to around $20,000. Crypto lending platform Celsius has announced that bitcoin had halted all withdrawals, citing ‘extreme market conditions. “Due to extreme market conditions, we are today announcing that Celsius is suspending all withdrawals, swaps, and transfers between accounts,” the firm wrote in a memorandum to clients.

Also, Read This:- What is a commodity Market

The record high of $68,000 was reached in November 2021

Bitcoin (BTC) reached an all-time high of over $68,000 in November 2021 and has since fallen over 68 percent. Ethereum price was also affected, causing the world’s second-largest digital asset to drop back below its 2018 peak.

Leave a Comment