TL;DR breakdown
- BTC’s value decreased by 3.49 percent in the preceding 24 hours
- Ethereum is bearish by 4.28%
- Shiba Inu’s value has decreased by 4% in the last 24 hours
- Solana is at the dip; market price fell to $92
Over the past two years, a lot of people in the United States started investing in cryptos in hopes of getting rich quickly. They now face the same dilemma: Cryptocurrency prices have plummeted since hitting all-time highs in early November, wiping out an incredible $1.5 trillion in value around the world.
The stock market and the crypto market are still very closely linked. Any changes in the stock market will eventually have an effect on the crypto market. The cryptocurrency market has had many big and small drops since last year, but it has always come back.
Despite the hype, only about 1% of the world’s population has its own crypto wallet. Some big companies with big marketing budgets started promoting the idea that people were already using it.
BTC’s value decreased by 3.49 percent in the preceding 24 hours
The data from the last twenty-four hours tells a sad story about bitcoin‘s market situation. Around 3.49 percent has been lost in the last 24 hours. The last seven days have seen a loss of about 13% of the value. According to the statistics, it has caused a lot of damage to BTC in the last few days.
There has been a steady loss over the last few weeks. BTC’s market cap is expected to be $700,650,753,026 right now.
A lot of people have bought and sold bitcoin in the last 24 hours. The trade volume was $32,048,120,691. If the market gets better, there is a good chance that bitcoin will get better.
Ethereum is bearish by 4.28%
Ethereum, as the second most popular crypto coin, is attracting a large number of buyers. However, the leading cryptocurrency token has lost value during the previous several days. It has fallen by more than 22% during the previous week or so. Additionally, the coin’s price has fallen to roughly $2,495 in the previous 24 hours. This is a red flag.
If we look at Ethereum‘s market cap, it is about $298,497,762,543. Trading volume for the last 24 hours is about $21,078,356,322.
Shiba Inu’s value has decreased by 4% in the last 24 hours
Shiba Inu has lost 25% of its value in the previous week and is in serious need of assistance. However, there is no good news, as the stock has fallen 24.70 percent in 24 hours. The cost has decreased to $0.000021.
Solana is at the dip; market price fell to $92
Solana‘s price has plummeted by more than 34% in the last seven days. On the open market, the price has been reduced by more than 6% to $93.00.
If we look at last week’s stats, Solana was at $168 on 19 January 2022. The marker is bearish for Solana at the moment. Solana’s market capitalization is now assessed to be $29,490,183,440 with a trading volume of $3,244,019,216.
Final Thoughts
The market has experienced multiple recessions, and the most recent setback reduced the market’s value to $1.68 trillion. Additional hits in December 2021 may weaken the value even more. Investors are withdrawing money in order to safeguard themselves against the ongoing upheavals. The result is a market that is contracting in size.
The only way to overcome this problem is for bitcoin and other well-known currencies to maintain stable valuations. Nothing is out of the question, and everything is conceivable.
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