Cryptocurrencies continue to dive. Bitcoin is approaching another psychological limit

Cryptocurrencies continue to dive.  Bitcoin is approaching another psychological limit

People who invested in cryptocurrencies after the fall of Luna, thinking it was a low, now have a big problem. Those who thought that Bitcoin for PLN 30,000 are even bigger. dollars is a bargain.

The cryptocurrency market is experiencing a crash. Bitcoin has already lost over 30% in a week. value, and this is not the worst result among digital assets. The most popular cryptocurrency last saw the level of $30,000 on June 10. Previously, the sideways trend was around 30,000. dollars has persisted almost since the fall of Terra and Luna. Five days ago, however, an almost uninterrupted decline began. Bitcoin could depreciate by as much as $3,000 in one day. Currently, the daily decline is 8.8%. and on a weekly basis it is as much as 31.6 percent. One Bitcoin currently costs PLN 20.8 thousand. dollars. The last time it was this low was in December 2020, but then the price was heading in the opposite direction.

The situation is even worse for the second most popular cryptocurrency. Ethereum costs below $1,100 apiece. The daily decline in this asset is 11.4%. and on a weekly basis it’s a staggering 39.3%. Large declines are also recorded on currencies related to Ethereum. Solana, the ninth cryptocurrency, loses 11% this day, and as much as 30% in seven days. It’s similar on Cardano. The seventh crypto is losing 12 and 29 percent, respectively.

Monkeys retreat

However, there are cryptocurrencies that have lost over 40% of their value in a week. Mostly, these are assets from the second and third ten most popular, but they include, for example, Apecoin, which is associated with the most famous NFT graphics. In this case, the declines reach 14%. within 24 hours and as much as 45 percent on a weekly basis.

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