The bitcoin cryptocurrency is a huge digital currency today. People all over the world have invested in BTC. Even the richest person in the world, for example, Elon Musk, has bitcoin. But here’s something!
If people are investing in BTC, then instead of growing up why the price reduced from $64K to $20-21K, a change of -54.04% in last one year? Is the digital currency going to top $64K again in the future? Well, There are many questions are confusing people whether Bitcoin Cryptocurrency is now safe to invest in or not?
After the crypto market crash in June 2022, the prices of all digital currencies are decreasing day by day. According to CoinMarketCap, The current price of Bitcoin(BTC) is $21,902.74, a change of -4.45% over the past 24 hours as of 12:11 p.m(IST).
The current price of Ethereum(ETH) is $1,183.09, a change of +6.12% over the past 24 hours as of 12:11 p.m(IST).
(DOGE), one of the favorites of the Americans, dropped $0.70 to $0.05933, a change of -65.75% in last one year.
Why is crypto falling today? Here’s what experts Say Now
Shivam Thakral, CEO of crypto exchange BuyUcoin said that the rising food, gas, and energy prices are putting tremendous pressure on the crypto market as Bitcoin and Ether have witnessed double-digit losses in the past 24 hours.
According to Darshan Bathija, CEO of crypto exchange Vauld, most investors worry that unless inflation numbers start dropping soon, the US Fed may have to tighten reigns by increasing interest rates at a faster pace than anticipated.
Though, there might be lots of reasons like this. But the actual reason behind the Cryptocurrency market crash is unknown. It’s only the creators of such currencies that know what’s the reason behind the fall.