Crypto crash (Bitcoin crash): Recently crypto has gone through one of the most significant downturns of all time since 2021. going all the way from $49,500 per bitcoin to $28,000 in just 48hrs. One can attest to the handful amount of money lost by many traders. However, the crypto market going through such a bleeding season can be allotted for lots of reasons. Nevertheless, few professionals predicted this. While the majority of the crypto influencers, YouTubers, etc have been shouting their regular anthem,’ to the moon’. The crash was so sudden that it took many traders by surprise.
Altcoins has nonetheless, followed the major setback. Many have wondered if some altcoins could ever recover from this market breakdown.
Moreso, one of the crypto projects which took many by surprise is the LUNA coin which went down by over 99%. Many who entered a short position on binance and many other trading platforms profited over 10000% to 1000000% depending on the leverage used. However, those who took a long position either hit stop loss or had their account blown to zero.
There are raging questions on whether the LUNA coin can ever recover or not.
At this moment, bitcoin is down to about $28k approximately. News flying up and down on the downfall of the crypto market. However, Coinbase has announced that they had a bankruptcy of $400 million and are insinuating that users may suffer from this major setback.
Conclusion{Crypto crash (Bitcoin crash)}
Significantly, many have liquidated their crypto portfolio following the deep. While many have nothing left in their crypto portfolio.
Although, many have attributed the crypto bleeding to be more of a Governmental influence on the market… while others still think it’s the influence of the long-predicted great depression.
will crypto ever recover?
is this the end of crypto?
What do you think?
