Crypto price drop today

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The volume of people investing in crypto at any given time is highly variable as well: More than half of traders who held crypto at the end of 2021 had only entered the market that year, according to crypto firm Grayscale Investments. And it’s no accident that crypto crashes tend to occur over weekends. That’s when investors tend to tune out, so the ones who are making trades can make bigger waves. Why has crypto dropped today Dunica pointed to external factors that may be depressing crypto prices lately, including the Fed’s plans to raise interest rates, as well as violence and protests in Kazakhstan, a leading country for Bitcoin mining.

Crypto falling

Halvings can affect the price of Bitcoin. Since the rewards are cut in half, new bitcoins become scarce. And this scarcity usually drives up the price, although this is by no means a certainty. Bitcoin’s price is further influenced by similar supply and demand factors listed above, along with events in popular culture and the general interest in cryptocurrencies and blockchain technology. This Cryptocurrency Spikes 20% After Coinbase Announces Support Market pricing posted by CoinGecko on Monday showed nine of the top 10 cryptocurrencies were trading at seven-day losses and many are down by double-digit percentages over the past week.

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Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn 'Extreme Panic': 3 Reasons Why Bitcoin Is Plunging On 7 July, Celsius Network received a lawsuit from a former cryptocurrency investment manager alleging the company failed to implement adequate risk management strategies or accounting practices to hedge the firm against cryptocurrency price fluctuations and protect its ability to repay its depositors, and that the company was operating an effective Ponzi scheme.

Crypto falling

He added: "We're hearing Bitcoin forecasts in the mid-teen and single-digit thousands which tells you the type of macro environment crypto is facing for the first time—and the levels of fear." Cryptocurrencies — in pictures On the price front, Bitcoin has actually slumped significantly since the launch, but that doesn’t mean the ETFs have been a flop. The slump follows a wild run-up in crypto prices that came in anticipation the SEC would approve the new product, so the recent drop reflects an expected “sell the news” moment. Meanwhile, the market for Bitcoin ETFs is already reportedly more valuable than the one for silver with BlackRock’s ETF already pulling in more than $1 billion on its own.