Cryptocurrency Economy Crash in 2022 — Price Drop in Bitcoin, Shiba, Ethereum
Proving all the predictions wrong, the cryptocurrency industry is down by 0.91%. During the year 2021 more or less all the cryptos have created record growth in price and people were highly hopeful that the tradition will continue even in the 2022. Several financial and cryptocurrency experts also predicted that most of the cryptos will keep growing in 2022 as well.
While last year Bitcoin price grew to record level, the overall crypto market started taking pace. However, this year from the beginning the Bitcoin price is making people scared with severe and continuous drop in its price.
As per financial experts China’s new regulations for crypto mining has affected the industry badly and this price drop is a result of those restrictions imposed by China.
- Bitcoin (BTC) -1.81% (£30,161.54)
- Terra (LUNA) +0.59% (£53.18)
- Ethereum (ETH) -2.66% (£2,239.55)
- SHIBA INU (SHIB) -3.85% (£0.00002010)
- Binance Coin (BNB) +1.80% (£325.18)
- Cardano (ADA) -3.79% (£0.82)
- XRP (XRP) +0.82% (£0.55)
- Polkadot (DOT) -3.61% (£17.45)
- Solana (SOL) -3.06% (£100.46)
- Avalanche (AVAX) -0.50% (£61.93)
- Dogecoin (DOGE) -2.55% (£0.11)
As per a report, as Tesla denied accepting Bitcoin as payment for their cars, the crypto price started crashing where Chinas restriction on block exchange worked as a catalyst.
However, as told by a free stock trading course trainer it it too early to confirm that the market is going down and it can be a temporary rectification of the price.