That is why the cryptocurrency market crashed today, what’s next after the bloodshed?

Bitcoin plunged on Friday when a large sell-off of shares in the US scared the cryptocurrency market. Approximately $ 129 billion of value has been erased from the market for cryptocurrencies within 24 hours.

A very bad day for stocks. that NASDAQ, The Dow and S&P all landed solidly in the red. The Dow is not far from its low point during the day.

According to YouTube channel host George CryptosRUs, that bitcoin was not the only one to get a hit after the Fed’s announcement. All gains from Thursday’s stock market rally were also wiped out on Friday.

The analyst highlighted in detail the biggest crash and its implications for traders.

The Dow Jones Industrial Average lost 1,012 points, down 3.0%; The S&P 500 fell 3.5% and the Nasdaq composition 4.7%.

Previously, it was predicted that May would be a good month for bitcoin, but the whole market is in free fall all because of the recent Fed decision this week, which had a negative impact on the cryptocurrency, especially as its price movement has been correlated with the market scholarship recently.

The market dives for fear of inflation:

Nasdaq fell sharply on Thursday, then ghost of recession haunts investors after the quarter-point rise in BoE which was widely expected by the market, but central banks have updated annual inflation forecasts to top single digits this year and the economy may shrink later in the year, which has already scared investors.

The analyst pointed to the recent rise in interest rates 50 point basis of the Fed. This has led to a continued tightening of policies to combat runaway inflation, which has reached record highs since 40 years.

That Fat expects that a continued increase in the target range will be appropriate for all long-term investors. That would be the Fed’s biggest increase in more than two decades, underscoring its aggressive approach to curbing rising inflation.

Countries like Germany are facing inflation, as is the whole of Europe as the DXY rises. that DXY consists of US dollars, British pounds, euros and yen, and they are all falling apart.

said George

“The growing fear of inflation is also due to the ongoing war and supply chain problems, China is suffering from another crisis, large parts of Europe are suffering from the disruption caused by Ukraine and of course Russia, while Russia is also threatening to cut oil.” and the list goes on and a lot of things are happening right now that scare everyone. »

The massive sales began in the wake of the crisis.

There is a huge sales pressure in the market right now and it is pushing people down who have invested long term or leverage in general.

That’s why Thursday’s deep stock decline – the technology-heavy Nasdaq Composite fell nearly 5% at noon – caused digital assets to reverse the trend, and even worse. . Bitcoin’s rapid decline brings it well below its level at the beginning of the week, to its lowest in months.

george said this is the biggest sale since March this year in Bitcoin, which began below the US market, which bodes well for a market participant that continues to sell every bullish rally.

Will the cryptocurrency market recover – and when?

That is the question that is on everyone’s lips right now.

Will the cryptocurrency market return or not, when and is it the right time to hold on or twist? Over the past year’s trend, bitcoin has seen its value jump by 255.65% – even including crashes cryptographic May 19 and June 8.

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