Home Crypto Investors are selling Bitcoin en masse, causing the price to crash

Investors are selling Bitcoin en masse, causing the price to crash

Investors are selling Bitcoin en masse, causing the price to crash

Why is the Bitcoin price crashing?

Tradingview’s chart shows that the Bitcoin price has just fallen to its lowest point in more than ten months. The largest cryptocurrency has faced very bearish triggers on multiple fronts, both from within and outside the crypto world.

Today, for example, it turned out that the FinTech company Celsius is on the verge of collapse, causing the company to stop its activities. This event is another blow to the credibility of the crypto world, especially after the collapse of Terra.

Macro conditions are also a negative factor. The Asian markets are deep and the red and the AEX has already fallen by 3 percent today. It is therefore almost inevitable that the stock markets in America will also fall hard today. The stock market is crashing because investors are very concerned about inflation. Traders do not like uncertainty and will therefore sell their risky assets en masse. Especially now that some analysts expect the Federal Reserve to raise interest rates by 75 percentage points.

Still, according to several analysts, the fear we see today is exaggerated. “When calm returns and the interest rate hike is not too bad next week, the market will recover somewhat.”

Ethereum is approaching the $1,000 mark

As we mentioned earlier, things are looking a lot worse for altcoins and Ethereum in particular. The ETH price has lost more than 37% of its value in the past 7 days and is now trading at its lowest level since January 2021.

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