Cryptocurrency Update: The last year 2021 saw tremendous investment in cryptocurrencies. Many experts were assuming that 2022 would be a great investment in cryptocurrencies, but for several days there has been a continuous fall in the prices of cryptocurrencies, due to which its market cap has decreased by Rs 75 lakh crore.
Bounce in November
- Cryptocurrency prices saw a huge jump in November last year.
- The price of bitcoin, the most popular crypto currency, reached $67,803. Its price had doubled in the last 6 months.
- The total market cap of this sector reached $1 trillion for the first time in November.
- Now it has come down to $9 trillion. It has arrived.
Bitcoin price continues to fall
- The price of bitcoin fell more than 12% on Friday. It fell below its lowest level since July at $36,000 (Rs 27 lakh).
- The price has lost over 45% since the record high in November.
- Bitcoin’s market cap has decreased by more than $600 billion due to the fall since November. It has now come down to $ 738 billion.
- Baki currency has also suffered a lot.
- Bitcoin has seen a strong decline in a week. The drop widened to about 15% on Wednesday, compared to an average of about 6% over the past seven days.
The fallout from the Federal Reserve’s decision
- The intention of America’s central bank Federal Reserve to withdraw the relief package to the market has hurt this cryptocurrency worldwide.
- The Federal Reserve’s intention to shake both cryptocurrencies and stocks
- Many experts agree that crypto has tilted and changed in much the same way as equities.
Most cryptocurrencies are in bad shape
- The price of most cryptocurrencies is down more than 10% on Friday.
- Ethereum is down 14%, Phantom 15%, Chainlink 13%.
- Dodgecoin compared to November Cardano lost 79%, Shiba Inu 72%, Uniswap 69%, Solana 52% and Ethereum 42% down.