Bitcoin and Cryptocurrencies, which have been on the rise for a while, have lost about 13% in the last three days.
Scary Decline in Bitcoin and Cryptocurrencies – 2023
Starting at $ 15,000 on November 21, 2022, the upward movements in Bitcoin and cryptocurrencies have been replaced by a rapid decline in recent days. Cryptocurrency investors are anxious about when the decline in cryptocurrencies will end.
According to market data, the beginning of the downward movements in cryptocurrencies in the last three days started with the comments made by the economy ministers in European countries. Especially on the US side, the statements made by Jay Powell (FED Chairman) in the last two days have made the decline in cryptocurrencies even harder.
Bitcoin, which has lost about 12% from $22500 in the last three days, is trading at $19842 at the time of writing.
Volatility of Cryptocurrencies
As those who have been investing in cryptocurrencies for some time know, the value of Bitcoin and cryptocurrencies can be volatile and unstable. The reason for this can be attributed to the small market compared to other investment instruments such as gold.
As we mentioned in the upper part of our article, in addition to the small volume of Bitcoin and cryptocurrencies, the downward movements in Bitcoin and cryptocurrencies have been continuing for the last three days due to the statements made by state employees from Europe and the United States.
Ethereum was one of the most affected by the downward movements in Bitcoin and cryptocurrencies. Although there were new developments in Ethereum, which worked hard during the bear market, it was also affected by the downward movements in the market. Similar to Bitcoin, Ethereum has fallen from $1581 to $1375 in the last three days, losing about 12% of its value. Ethereum is trading at $1404 at the time of writing.
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