There is chaos in the crypto market today so here i am updating you with Crypto Crash News. Here i will also update you with Why Crypto Crashed and When the Crypto Market is Going Up Again? Out of the top 10 cryptocurrencies by market capitalization, only one is green right now. Ethereum, the 2nd largest cryptocurrency, has seen a decline in brightness of more than one percentage during this time, but it is still worth more than USD 2,000.
Regarding the largest cryptocurrency, Bitcoin is getting up or down sometime so it is not possible to predict about it. As of right now, one Bitcoin is being sold for USD 37,257.45, down 0.22 percent from its previous price. In terms of the overall cryptocurrency market, the last day saw a 0.83% drop in the global market capitalization.
Crypto Crash News
The days of cryptocurrency investors are not looking good. For the past year, it has been continuously losing money. The global governments’ tighter regulations on cryptocurrencies haven’t stopped the virtual currency’s downward trend. It is unlikely that things will get better in the future as well. As a result, the selling phase is still ongoing, which is causing significant losses for the investors. In November, investors experienced the fourth-largest monthly loss, according to a block chain and smart contract security company.
I want to inform you that, as of now in November, investors in cryptocurrencies have lost USD 175 million in value. Certik has said that the company has lost USD 175 million so far in November, with two incidents accounting for ninety-one percent of the losses. According to the report, November already has the fourth-biggest deficit of the entire year. The security company also disclosed that roughly USD 29 million was lost as a result of the phishing scheme.
Why Crypto going down in November 2023
With FTX’s native token, FTT, seeing a sharp increase of over 55% in the previous 48 hours to trade at USD 4.85 today, the cryptocurrency market is in dilemma. This gain is a part of a month-long rally that saw the token jump 390%, reaching a USD 1.5 billion market value. The noteworthy improvement in FTT has coincided with the extensive expansion of related cryptocurrencies and meme coins, despite its limited utility on the now-bankrupt FTX platform.
Crypto Crash News claims that the top 10 whale wallets, which have amassed a total of over USD 12.8 million in FTT, are responsible for a large portion of the FTT value growth. Because of this institutional interest, the token has surpassed significant resistance levels and reached year-to-date highs.
Why Crypto Crashed?
- Coin crashes and exchange outages are two main occurrences that have a significant impact on cryptocurrency values. Higher interest rates, increasing inflation, and other macroeconomic issues can also cause them to decline, since they might influence people’s confidence in investing in riskier alternative assets.
- The market has been impacted by financial enforcement actions, such as those conducted by the SEC, and regulatory considerations.
- Additionally, a sharp decline in prices may put additional strain on the market by requiring some investors to release capital in order to fulfill other commitments.
When the Crypto Market is Going Up Again?
It’s hard to predict with certainty When the Crypto Market is Going Up Again?. Questions still arises every time for this. However, if the market develops further, you will be able to make wiser investment choices if you keep an eye on a few major crypto themes. When the cryptocurrency market is in decline, someone who has been watching it from the sidelines may believe that now is the right moment to “buy low.”
Although prices can and have recovered in the past, it may take several months or even years for them to do so. Additionally, things might worse before improving. Prices may also decline for a while after a significant fall, particularly if it results in financial difficulties for other exchanges or currencies.
With its amazing comeback in 2023, Bitcoin is expected to have a very strong 2024, marking the end of the cryptocurrency winter before its mid-2024 halving, according to some analysts. The world’s largest cryptocurrency, Bitcoin, has seen a sharp shift in price momentum in recent weeks, leaving many traders unsure about what lies next.