Bitcoin price drops to $18K and Ethereum to $900

The crypto crash just keeps on going. Also in the weekend the Bitcoin and Ethereum price will turn dark red. Now that the BTC and Ether prices have both fallen below the key psychological levels of $20K and $1K, the last bit of hope of crypto investors seems to have vanished.

This extremely negative sentiment has caused investors to sell their crypto coins en masse. This huge selling pressure has pushed the Bitcoin price to $18,000 today and the Ethereum price to drop to $900. What can we expect now that all support is gone?

Bitcoin and Ethereum in Big Trouble as They Have Lost Crucial Levels

The Bitcoin price has fallen again by 12 percent today and is around $18,000 at the time of writing. The last time the BTC price was this low was in December 2020. The fear is extremely high among crypto investors, especially when the psychological $20,000 barrier was broken.

According to several analysts, this means that the price could fall much further. The same is true for the second largest crypto currency in the world, Ethereum. Now that it has lost the $1,000 mark, there seems to be a much bigger chance of a much bigger decline. This is exactly what BitMex CEO Arthur Hayes warned about.

Bitcoin price could drop to $13,800

The big question now is what exactly is the bottom. According to noted analyst Sam Callahan, the Bitcoin price could drop to $13,800, which is a drop of more than 80% from its all-time high in November 2021. A similar 80% drop happened in 2018.

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It only becomes painfully clear how brutal the crash is when we look at the total market value of all crypto coins. At the time of writing, this is around $835 billion. This while the crypto market was worth more than $3 trillion 220 days ago. Then the Bitcoin price was around $69 thousand and the Ethereum price around $4,800.

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