2 years ago
215 Crypto crash as BTC, ETH and DOGE plummet in value
In the latest crypto news, investors may not like what they’re about to hear. The crypto
market as of late has plummeted in value by over 3%, and this crash is still transpiring over
the weekend.
The decline of value of BTC, ETH, and DOGE came from last fall after the whole year’s gains
and record-margin highs that will inevitably follow-up with a crash. Part of the reason why it
also fell in value is the increased market cap and the effects of COVID-19.
Will this crash push through in 2022, or would this be a temporary volatile situation that will
constantly occur in the following years? Hopefully, the effects won’t last very long as Bitcoin
games and other crypto online casino games are on the rise right now.
Why is the crypto market down?
Bitcoin and other top crypto tokens have experienced a major plummet in price after
investors started taking out mining equipment that was followed by China’s crackdown on
the crypto market.
The Chinese government regulated fresh mandates that bans mining cryptocurrencies
(especially BTC, ETH, and DOGE) in the Sichuan province. China’s mining regulations began
a domino effect that caused the whole market to drop its value.
In the meantime, Chinese banks and financial institutions have already admonished any
support of crypto exchanges and transactions. This diminishes a lot of value from
cryptocurrencies that contributed to the market falling.
The news created a state of panic among many investors who want to pull out their crypto investments before it’s too late.
The Indian government made public statements regarding the ban of private cryptocurrencies in the country. The country is also close to finalising a regulatory proclamation that heavily regulates the use and mining of crypto coins.
This rumoured statute will be presented in parliament which will further disrupt the crypto industry for the worse. Finance Minister Nirmala Sitharaman cleared this smoke by claiming that the Indian government has no plans to consider crypto tokens as a form of currency that only exacerbated the issue of the crypto market as a whole.
What will happen to the crypto market in 2022?
When rumours transpire and the problem persists where the leading cryptocurrencies’ values in the market continue to plummet, then it should go without saying that the market will more likely expedite the collapse of cryptocurrencies.
But with how great of a commodity BTC, ETH, and DOGE are and how the fall is only by 3%,
it’s likely that this dip in the market is not permanent.
Investors are still advised to remain in the books with their investments and wait for the
market to correct itself. The biggest market of cryptocurrencies – the United States – is still
affable to the industry. In fact, more people are getting their hands on digital wallets to
safely exchange their crypto tokens with other investors.
As the market corrects itself slowly, you can start playing Bitcoin games and other crypto-
related casino games since you don’t need to fret with this temporary fall.
