Times are tough for crypto investors. Indeed, crypto prices have been at half mast for several months. It is clear that the downward trend has sharply increased in recent hours. The price of Bitcoin has thus just fallen below the €30,000 mark .
The price of Bitcoin in free fall!
This had been feared for a few days, it is now done. At the time of writing this article, the price of Bitcoin has fallen below the €30,000 mark .
It must be said that Bitcoin has not been doing well since the new year:
- – 28% over the last 30 days;
- – 22% over the last 60 days;
- – 29% over the last 90 days.
But the day of May 9, 2022 saw the price of Bitcoin accentuate its fall even more. Thus, Bitcoin lost almost 11% in 24 hours . At the time of writing this article, the price of Bitcoin is €29,280. To contextualize the hemorrhage, it should be noted that the record Bitcoin price reached on November 10, 2021 was €65,152. In other words, the price of Bitcoin has lost more than 55% of its value in 6 months !
The crypto market as a whole in the hard
The depression is not just for Bitcoin. In fact, the entire crypto market has been suffering for several months. Thus, Ethereum , the world’s second largest crypto, shows the same poor performance. Its current price is €2,175, i.e. 55% less than its peak reached on November 16, 2021 (€4,632). If we take the world top 50, only 5 cryptocurrencies float over the last 90 days:
- TRON (TRX) : + 13 % ;
- Money (XRM): + 5%;
- ApeCoin (APE): + 825%;
- THORChain (RUNE) : + 4 % ;
- Waves (WAVES) : + 28,5 %.
On the side of the worst performance over this same period of time, we find the following cryptos:
- Polygon (MATIC) : – 57 % ;
- Chronos (CRO): – 55%;
- Hedera (HBAR): – 55%;
- The Sandbox (SAND) : – 60 % ;
- Decentraland (MANA) : – 65 % ;
- Axie Infinity (AXS) : – 58 % ;
- Phantom (FTM): – 74 %.
The current situation largely explains the fall in crypto prices: inflation, war, COVID, etc. In this tense context, investors are nervous and in particular large carriers (or whales).
The Crypto Fear & Greed Index is an indicator that analyzes a set of data and provides information on the state of mind of crypto investors. However, since May 7, 2022, this indicator has gone from “fear” to “extreme fear”, its most critical stage…