HomeinetBitcoin: Falls below $ 30.000 - The crypto market is in "free fall"

Bitcoin: Falls below $ 30.000 - The crypto market is in "free fall"

Another drop in Bitcoin in recent days. In free fall all the crypto Buy.

Bitcoin fall

Its price Bitcoin fell below $ 30.000, increasing its total losses to more than 50% since it hit an all-time high in April. About a week ago, its price cryptocurrency had risen 13% to more than $ 40.000, but has fallen in recent days.

See also: Bitcoin mining uses less energy than the banking system

Meanwhile other top cryptocurrencies, including the Ethereum, Cardano and dogecoin, also show a decline like Bitcoin.

The downward trend of digital currencies affects the entire crypto market, whose total value has decreased significantly in the last only seven days.

According to Nicholas Cawley by the analysis company DailyFX, the cryptocurrency market is in "free fall". The latest mining ban imposed by China affects the situation, but the overall market tone is very negative.

See also: Card Broken Operation - China: Arrests of 1.100 people for money laundering with cryptocurrencies

crypto market

"Right now, it's a "guess what" game - whether bitcoin will be over or under $ 10k a month, no one knows, and those who tell you they know do not. We have seen these moves in the past and will probably see them again".

See also: Musk: Tesla will accept bitcoins that are mined with clean energy

Ο Alex Siman, founder of the decentralized social network Subsocial"At this rate of decline, it is difficult to predict the level at which the price will form the basis for an impending recovery, as large investors who have the ability to reverse prices choose to monitor the situation."

"While we can still see some positive momentum before the end of this year, for me, a sharp drop to $ 20.000 will come as no surprise.", He added.

Source: The Independent 

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