Bitcoin, ETH & Other Cryptocurrencies Falls Dramatically For Today - Analysis.

Bitcoin, ETH & Other Cryptocurrencies Falls Dramatically For Today - Analysis.

2021-12-06 | Big Bob

Bitcoin, ETH & Other Cryptocurrencies Falls Dramatically For Today - Analysis.

Bitcoin, Ethereum, and other cryptocurrencies have seen severe price drops. While Bitcoin (BTC) has dropped by over 3.5%, Ethereum (ETH) has dropped by over 5%, according to data from the coinmarketcap website. According to coinmarketcap, the price of Terra has dropped by over 20%, Polygon has dropped by over 15%, Solana has dropped by over 10%, Ripple has dropped by 0.16%, Cardano has dropped by over 6%, Binancecoin has dropped by over 3%, Shiba Inu has dropped by over 8%, Decentraland has dropped by over 10%, Polkadot has dropped by over 9%, Litecoin has dropped by over 9%. Bitcoin, ETH & Other Cryptocurrencies Falls Dramatically For Today - Analysis. According to an IANS report, Bitcoin and other cryptocurrencies plummeted substantially last week, indicating that investors were pulling back from riskier bets following the week's stock-market selloff. Stock market jitters regarding the new Omicron type of Covid-19, as well as the Federal Reserve's response to inflation, may have had a part, according to the IANS report. Another reason that might have accelerated the bitcoin selloff was the unwinding of highly leveraged crypto futures, according to Noelle Acheson, head of market research at cryptocurrency lender Genesis Global Trading. According to the IANS report, she mentioned a significant sell order may have resulted in margin calls and liquidations for investors. Higher interest rates make owning speculative assets like bitcoin less appealing. When the Federal Reserve boosted interest rates in 2017 and 2018, bitcoin values plummeted precipitously, causing what crypto enthusiasts refer to as a bitcoin winter. During the epidemic, the coin took off once more. On November 9, BTC reached an all-time high of $67,802 USD.

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